Compliance

In opposing restrictions on interchange fees, the financial services industry often claims that 2011 debit swipe-fee reforms are such a huge threat to revenue that even small banks and credit unions below $10 billion in assets, which are exempt from the Dodd-Frank Act rules, feel the pinch.

Comptroller of the Currency Thomas Curry's unexpected announcement this week that his agency may craft new guidelines to deal with de-risking is generating concerns from bankers instead of putting them at ease.

As questions about how the NCUA chairman’s pending departure could complicate the agency’s plans for addressing supplemental capital, presidential appointments and other issues, CU Journal asked industry stakeholders their thoughts on this development.

The fight over the security protections on the San Bernardino, Calif., iPhone is about more than a single device or Apple's product line.

Startups, including one in the virtual currency field, have approached the Office of the Comptroller of the Currency about applying for banking charters, the agency's chief counsel said Thursday.

Though it could signal that some presidential appointments might finally start to creep forward, NCUA Chairman Debbie Matz’s recent notice that she will step down at the end of next month could complicate things, including NCUA Board Member J. Mark McWatters’ nomination to the Export-Import Bank Board.

The Central Bank of Bangladesh is threatening to sue the New York Fed over money wired out of its account. The Fed says it did nothing wrong, the transfer was authenticated and executed by Swift.

As the Central Bank of Bangladesh threatens to sue the Federal Reserve Bank of New York over at least $80 million stolen from its account there, the Fed says its systems were not compromised.

President Obama put pressure on regulators this week to finish their long-delayed rule governing executive compensation, but by the time it gets implemented, much of the work may have already been done.

It could take months before lawmakers approve a successor for departing NCUA Chairman Debbie Matz, and industry observers believe issues like supplemental capital could be on hold until that replacement takes office.