Regulation
The Minneapolis bank extended its purchase agreement until the end of 2022, six months after the deal's original targeted closing date. Large-bank acquisitions have been drawing closer regulatory scrutiny during the Biden administration.
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Regulators are starting to look at bank-fintech partnerships as a source of systemic risk, but the real problem is the lack of consistent prudential rules outside of banking.
September 13 -
As Treasury cracks down on DeFi, observers say merging the worlds of traditional and decentralized finance is an increasingly impossible dream.
September 13
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Regulators have been sending out warning signals about the partnerships between banks and fintechs. Does this mean banks and fintechs have to change what they're doing?
September 13 -
The Minneapolis-based buyer had previously said the deal would close earlier in the second half. Some of the financial benefits, which had been expected to be realized next year, won't come to fruition until 2024, executives said Monday.
September 12 -
The San Francisco bank's employee retirement plan allegedly overpaid for preferred stock that was eventually deposited into employees' retirement accounts. The bank said that it "strongly disagrees" with the Department of Labor's allegations, but it agreed to the payment in order to resolve the matter.
September 12 -
The Biden administration's Property Appraisal and Valuation Equity Task Force is working to eliminate race-based bias in the assessment of home values.
September 12 -
Financial downturns hit lower-wealth communities first and cause them to suffer the longest.
September 9 -
Republican Sen. Pat Toomey criticized the degree of "opacity" surrounding some community benefit agreements, or written deals between banks and community groups ahead of a merger that often involve billions of dollars of commitments.
September 8 -
Frustrations with gatekeeping, a lack of diversity and the way home appraisal is overseen are spurring many practitioners to call for an overhaul of the industry's governance structure.
September 7
