Regulation
Establishing a conduct risk authority in the U.S. would go a long way toward restoring trust in the banking industry.
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The credit card company is no stranger to regulatory penalties, but its CEO's sudden departure this week raises the specter of a more painful punishment tied to possible compliance shortcomings. Analysts are hoping to get clarity Thursday on how bad things could get.
August 16 -
Merchants may rake in 14% to 200% more revenue from consumers who forgot to cancel online subscriptions paid for by credit and debit cards, according to a new study based on anonymized consumer transaction data.
August 16
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The credit-reporting agency was fined $650,000 for sending customers marketing emails without an option to unsubscribe. Financial institutions are subject to the same law, called the CAN-SPAM Act.
August 15 -
The SEC and CFTC charged 11 Wall Street firms $549 million in penalties over recordkeeping violations. The agencies vow to continue enforcing compliance throughout the industry.
August 15 -
In its annual report, the Federal Deposit Insurance Corp. explored the various credit, market and operational risks facing the banking sector. It also explored crypto and climate issues.
August 14 -
Jay K. Oberg, a 32-year veteran of the Comerica Bank and a top deputy to CEO Curtis C. Farmer, plans to retire in December 2024.
August 11 -
The real threat is from undercapitalized banks, and regulators must require large banks to have enough capital to eliminate that threat.
August 9 -
The Federal Reserve has outlined the process state member banks must follow before issuing, redeeming or holding stablecoins. The agency also says it will create an examination process to monitor novel activities.
August 8 -
Goldman Sachs told Sen. Elizabeth Warren, D-Mass., that it made $60 million on the purchase and sale of part of Silicon Valley Bank's loan portfolio.
August 8
