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The Canadian Senate Banking, Trade and Commerce committee has issued a report encouraging "a light regulatory touch almost a hands-off approach" to regulating digital currencies.
June 22 -
Determining regulatory requirements based on banks activities rather than their size would liberate old-school institutions from unnecessary burdens without endangering the financial system.
June 22
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While regulators worldwide have urged banks not to "derisk" by cutting off entire industries or geographies, it is rare for policymakers to specifically cite this controversial sector as wrongly underserved.
June 19 -
A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the need to hold bankers accountable for criminal deeds and whether the FDIC's proposed recordkeeping requirement is smart planning or pointless.
June 19 -
BB&T's auto-finance division will stop dealers from marking up the price on sales contracts, and instead will offer a flat-fee compensation program.
June 19 -
Many lenders may not have been ready for the CFPB's new mortgage disclosure rule if it took effect on Aug. 1 as planned. Now a slip-up by the agency itself has given lenders a two-month reprieve.
June 19 -
The Consumer Services division of Washington state's Department of Financial Institutions has accused Quicken Loans of sending false claims in direct mail advertising to military members.
June 19 -
Pressure from community groups forced Valley National Bancorp to strengthen its commitment to lend in low-and moderate-income neighborhoods in order to win approval for a Florida acquisition. Other banks, too, are now placing CRA efforts front-and-center as they aim to sell deals to the public and their regulators.
June 19 -
The Treasury Department gave financial institutions a rare pat on the back in a recent analysis of anti-money-laundering safeguards, saying the system has significantly improved.
June 19 -
Incorporating bill and rental payment data into consumer credit scores would be a boon for underserved Americans. New legislation in Congress could help credit reporting agencies realize this goal.
June 19
