Law and regulation

The Philadelphia bank, headed by Vernon Hill, is already fighting two lawsuits from activist shareholder groups. It also risks being delisted by NASDAQ for indefinitely postponing the meeting.

A push by Republican Sen. Cynthia Lummis, one of the crypto industry’s staunchest supporters in Congress, to write a new law for digital assets is getting the support of at least one Democrat.

A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.

Sarah Bloom Raskin, President Biden’s pick to be the Federal Reserve Board’s vice chair for supervision, has had a distinguished career as a state and federal banking regulator. Her belief that banks should identify assets that are subject to climate-related shocks sounds like basic risk management, not a radical call to action.

Yan Zhao, President of NYDIG as she exploreshow Bitcoin is experiencing wider adoption in the traditional finance world, and why that is.

The Consumer Financial Protection Bureau sued LendUp in September, alleging that the digital payday lender consistently misled customers about the benefits repeatedly using its loan products.

Financial advisors have a variety of objectives in working with their investment-planning clients. But when all is said and done, clients are usually mainly interested in a successful road map to growing and protecting their wealth to and through retirement.

The companies said they are still waiting for the Federal Reserve to approve the deal, which was announced nearly a year ago and was scheduled to close by Oct. 15. The new deadline is March 1.

“As the CEO of one of America’s largest banks, Richard Fairbank repeatedly broke the law,” the acting director of the FTC’s Bureau of Competition said.

Five years into scandals that have already cost Wells Fargo more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls.