Regulation

As Congress moves closer to its Dec. 21 deadline to keep the government funded, the outlook for more financial services regulatory relief continues to worsen.

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

The financial industry is not expecting movement on a lot of legislation given a divided Congress, but one measure is beginning to attract widespread attention.

The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.

Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader.

One Federal Reserve governor’s push to use an untapped capital buffer to counteract potential losses is stoking concerns that such a maneuver could spook financial markets.

The National Credit Union Administration board voted to decrease the normal operating level for the share insurance fund in addition to prioritizing alternative capital as part of its regulatory reform.

The legislation follows passage of a similar bill in the House and would push back implementation of NCUA’s risk-based capital rule to 2021.

Sen.-elect Kyrsten Sinema, D-Ariz., and Sen. Tina Smith, D-Minn., will join the panel as their caucus loses two other committee members who suffered election defeats.

Three different methodologies will be tested in the pilot program, which is expected to last about three years.