Regulation and compliance
The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.
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The $668 billion-asset company sold investment securities and certain mortgages to avoid more stringent liquidity and other federal requirements for larger banks. Yet CEO Andy Cecere says U.S. Bancorp is "not under an asset cap at all."
October 18 -
Far more than most people, financial services professionals ought to understand the compounding crisis of climate change.
October 17
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Not only could warehouse lines of credit be impacted by the U.S. version of international Basel rules, and financing secured by mortgage servicing rights may be, too.
October 17 -
Banks, regulators and public interest groups have sparred for years over whether exam and other supervisory information should be public and to what degree. However, the recent sharing of CSI with a news organization has pushed the policy fight back into the spotlight.
October 16 -
The simple act of disclosing their sensitivity to interest rate changes would bring market discipline to the banking industry's choices about interest rate risk.
October 16 -
The Security Traders Association conference in D.C. led a panel about the SEC's proposal to scale back robo-advisors and AI in markets.
October 13 -
Blue Ridge Bank in Virginia changed course after its rapid growth in the fintech partnership business landed it in hot water. But the path back to a traditional community banking model is also proving to be bumpy.
October 10 -
In a letter to Federal Reserve Chair Jerome Powell, 10 members of the committee demanded answers about how supervisory information was made public.
October 10 -
If the industry keeps consolidating at its current rate, there will be roughly 500 banks in 20 years. That will likely mean the loss of competition and choice for customers in some markets.
October 6
