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Treasury Secretary Jacob Lew on Friday sought to reassure banks they would not be penalized for the unforeseeable consequences of their presence in certain foreign areas, a fear that has driven a trend called de-risking.
October 7 -
The Consumer Financial Protection Bureaus new regulation governing prepaid cards will disrupt consumer practices, drive up costs and wreak havoc on a fast-growing sector within the payments industry.
October 7
Consumers' Research -
Current proposals about what to do with Fannie Mae and Freddie Mac that still focus on a government-backed solution are misdirected.
October 7
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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
October 7
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A former top regulator of Fannie Mae and Freddie Mac wants to abandon the development of the common securitization platform and use the existing Ginnie Mae platform to issue government-guaranteed mortgage-backed securities.
October 6 -
WASHINGTON A bipartisan group of House lawmakers on the financial services panel introduced legislation Wednesday that would help banks remotely open accounts.
October 6 -
As the financial world comes to grips with the news that the European Union has no intention of implementing the final elements of Basel III, observers are scrambling to figure out how much impact the split could have on U.S. banks and global financial stability.
October 6 -
If Wells Fargo employees were fired for trying to stop the banks improper account practices, as has been claimed in court, it shines a spotlight on the need for more whistleblower assistance.
October 6
Murphy McGonigle -
Fourteen senators including Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., sent a letter Wednesday to Attorney General Loretta Lynch calling for the Justice Department to investigate possible criminal wrongdoing by senior executives at Wells Fargo.
October 5 -
Community bankers say that reclassifying "reciprocal deposits" as a less risky type of deposit will help them to compete with large banks. Some deposit brokers are crying foul, arguing that the proposed legislation would put them at a competitive disadvantage. Observers, meanwhile, say the bill is so narrowly written that it would hardly affect competition.
October 5
