Exams

The New York State Department of Financial Services has fined Mega International Commercial Bank in Taiwan $180 million in connection with allegations that it violated New York’s anti-money-laundering laws.

With supervisory pressures continuing to mount, a piecemeal approach to handling banks’ regulatory demands is costly and ineffective.

Distributed ledgers have the potential to simplify and strengthen bank regulatory oversight when applied in the appropriate context, such as during the Shared National Credit examination program.

The Consumer Financial Protection Bureau added its voice Tuesday to a chorus of other regulators in calling for sustainable foreclosure relief when the Home Affordable Modification Program expires at yearend.

Regulators' recent warnings on emerging risks with commercial real estate indicate banks have reverted to CRE practices that got them in hot water once before.

The fragmentation of the U.S. regulatory system and uncertainty around what agencies will regulate fintech firms could slow down innovation.

Big banks were seen as winners in the Trans-Pacific Partnership, but their support for the pact is in question as a result of their treatment in a data-related provision.

The Consumer Financial Protection Bureau said Thursday that it paid $24.5 million in restitution to consumers after uncovering illegal activities in auto finance and payment firms in the first four months of this year.

Ten banks have invested a total of $25 million in the fund, which buys up mortgage-backed securities tied to loans made for the development or rehabilitation of affordable single- and multifamily homes.

Evidence that regulators consider institution size when evaluating accounting compliance should encourage banks worried about the new loan-loss reserving standard.