Policy & Regulation

Three years after the collapse of Silicon Valley Bank, a new report on the bank failure reminds us that the conditions leading to its failure were made possible by decisions made by the central bank's board.

Attackers suspected of using AI got into Korean banks through side doors. The apparent failures were ordinary cyber hygiene, the kind U.S. regulators keep naming.

The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.

The agencies step in after Congress torpedoed the Clarity Act; but the lack of rules isn't what's holding crypto back.

Fincen also formally dropped a 2020 proposal on rules for self-custodied crypto wallets, citing the Trump administration's deregulatory agenda.

Kyle Horn, the owner of a precious-metals dealer in San Diego, says his Bank of America account, which had about $50,000 in it, has been frozen for 18 months. He's suing to get his money back — and to win protections for other customers like him.

The conservative-aligned bank still plans to go public, but will do so in a way that bypasses the need for the Federal Reserve's approval. Old Glory's CEO said the Fed failed to approve its recent application because the bank is "pro-crypto."

While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.

Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.