Regulation
Banks must comply quickly with fast-moving sanctions against the Kremlin and have to spot questionable Russian companies and wealthy individuals. At the same time, some need to deal with settlement risk of trades that involve rubles. Sophisticated data sharing and analysis are making it easier to do the job.
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PayPal is making it possible to "Venmo" an income tax payment, while GoDaddy is taking aim at simplifying sales tax calculations for its merchant clients.
March 28 -
During his March Federal Open Market Committee meeting press conference, acting Federal Reserve Chair Jerome Powell said the Fed's supervision and regulatory panel was no longer active and key decisions about stress tests and bank mergers were being handled by the full board.
March 16
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Several large banks are being investigated for employees’ use of unmonitored messaging software, despite prohibitions that have been in place for years.
March 11 -
Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.
March 8 -
The Columbus, Ohio, bank plans to cut the price to consumers who spend more than they have from $36 to $15. In another change designed to help customers who live paycheck to paycheck, it will start offering instant access to check deposits.
March 8 -
Rep. Patrick McHenry, R-N.C., said at an American Bankers Association summit that if Republicans win majority control of the House in the upcoming congressional elections, they would “unleash the free market” by pursuing innovation-friendly policies.
March 8 -
Mary McNiff, who has been in the job since 2020, will step into a new, unspecified role later this year. CEO Jane Fraser, who is dealing with the aftermath of two consent orders, has said that updates to the company’s risk management systems are her top priority.
March 7 -
The $7.6 billion deal was originally expected to close in the fourth quarter of last year, but the banks had pushed back their deadline until June. Once the merger is complete, the combined bank will have more than $200 billion in assets.
March 4 -
A judge’s decision puts new pressure on the brokerage industry watchdog and the SEC.
March 3
