Regulation
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.
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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
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A judge’s decision puts new pressure on the brokerage industry watchdog and the SEC.
March 3 -
The Canadian banking giant established a nine-month window to finish its $13.4 billion purchase of First Horizon, which could be challenging given the tighter regulatory scrutiny of bank M&A. After November, the price tag will go up.
February 28 -
The $2.3 trillion-asset company plans to scrap the charges by this summer. It joins Capital One and Ally in doing away with the fees, which face pressure from Biden-era regulators.
February 24 -
Only 12% of large and regional banks in the U.S. and Canada are running the scenario analyses that regulators are poised to recommend, according to a new survey. Observers say progress has been faster on the other side of the Atlantic, as European banks and their regulators have moved more quickly to develop a uniform system for quantifying risks.
February 3 -
Four-fifths of the state's community banks have disappeared since the start of the 2008 financial crisis. The founder of the newly chartered Scottsdale Community Bank calls the market "drastically underbanked."
February 3 -
The wirehouse and its attorney “manipulated the arbitrator selection process” and “introduced perjured testimony,” according to the ruling.
February 2 -
After regulators signaled their intention to crack down on banks that lean on the controversial charges, First National Bank Texas adopted a reform. A bank spokesperson said the move was unrelated to any pressure from Washington.
January 25
