Regulation

CUNA and NAFCU both issued letters to the National Credit Union Administration suggesting ways federal credit union bylaws could be amended.

Although most consumer-facing financial institutions now offer mobile applications, that doesn’t mean that they are ready for a world where smartphones are the primary point of contact with their customers, writes Rune Sorensen, a product manager at Nets.

A recent proposal to allow the government-sponsored enterprise to offer more credit in agricultural regions is deeply flawed.

The bank missed expectations although profit rose 67%; with the California Democrat leading the House Financial Services Committee, deregulation could slow.

Fragmented and manual AML processes pose a challenge to many institutions, contends Edmund Tribue, risk and regulatory practice leader for NTT.

The revised recommendations are one of the last remaining pieces left to finish in the Basel III capital accords.

Despite the ongoing federal work stoppage, some scheduled activities are still taking place this week in Washington.

The agency is expected soon to propose a revamp of the 2017 regulation that would eliminate the ability-to-repay provisions, which small-dollar lenders saw as a direct threat to their business.

As the payment industry continues to innovate and expand across borders, it increasingly will need to be mindful of data regulations requiring data localization that multiply the complexities and cost of creating a seamless data flow and user experience, Alston & Bird’s Richard Willis and Laura K. Song write.

The post-Dodd-Frank era is one of rightsizing and tailoring rules, but a key bloc of the regulatory brain trust believes the U.S. still lacks mechanisms that could prove helpful in a crisis.