Policy & Regulation

The National Credit Union Administration will also discuss the current expected credit losses standard, which trade groups have argued that the industry should be exempt from.

After the House passed a defense spending bill that included the provision ahead of negotiations with the Senate, industry representatives are optimistic Congress will finally shift the burden of reporting true-owner information from banks to their business clients.

The agency plans to issue an advance notice of proposed rulemaking dealing with efforts by fintechs and data aggregators to leverage a consumer's bank account information.

The regulation allows banks to add employees with past convictions for trivial crimes after the industry complained the prior rules were too severe.

Financial institutions want to protect customers and employees from the coronavirus but are caught in the middle of a politically charged public health debate. The stance taken by the industry’s largest trade group gives them cover.

The Trump administration's executive order to terminate and replace federal enforcement of anti-discrimination policies at the local level, citing the burden it put on municipalities, enraged advocates of equitable housing practices.

Quantexa, which uses artificial intelligence to detect money laundering and other financial crime, is already being used by HSBC and Standard Chartered Bank.

Republican Sen. Mitt Romney of Utah said he will vote against Judy Shelton, one of two Trump administration nominees to the Federal Reserve’s Board of Governors.

The credit union regulator can accomplish so much more when board members work in a good-faith, fair-minded manner.

Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.