Law and regulation

The Houston company has agreed to pay a $3 million penalty, provide $4 million in loan subsidies to new borrowers and make other investments aimed at improving home buying opportunities for Black and Hispanic households.

Consumer advocates have long wanted to restrict banks' ability to collect overdraft fees. The Empire State's new law represents a small but consequential breakthrough as they push for nationwide reform.

Community banks have played and will continue to play a key role in supporting local economies across the country. Join us in a lively conversation with Dennis E. Nixon, President & CEO of International Bank of Commerce (Laredo, Texas) & Chairman, International Bancshares Corporation and Eddie Aldrete, Senior Vice President at International Bank of Commerce as we discuss: (1) the need for bankers and the business community to become involved in political issues. From minimum wage and issues that affect small businesses to regulatory issues that directly affect the banking industry, banking and business leaders need to be thought leaders in the public conversation and (2) how bankers can play a pivotal advocacy role in the free trade process.

The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.

Citigroup’s chief financial officer said China’s recent moves to crack down on companies isn’t likely to harm the bank’s business across the Asia-Pacific region.

The agency is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, PayPal said in a quarterly regulatory filing.

Community development financial institutions could do more lending in low-income neighborhoods if policymakers relaxed accounting rules, increased government support and encouraged more investment from hedge funds and other nonbank lenders.

The state's department of financial services is asking firms that it supervises to report information about the composition of their boards and senior leadership. It expects to publish aggregate findings in early 2022.

Community banks, which rely more on the charges than their larger counterparts do, were instrumental in staving off new regulation during the Obama era. But much has changed since Democrats last held power in Washington.

Ensuring the safety and soundness of Fannie Mae, Freddie Mac and the Federal Home Loan banks is the core responsibility of the Federal Housing Finance Agency. That shouldn't change now that the president has the authority to fire the FHFA's director at will.

The European Union’s planned Green Asset Ratio, intended to reveal how much a bank lends to climate-friendly companies and projects, will offer a distorted picture of reality, according to a Bloomberg survey of some 20 major European banks.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

Financial services companies are set to be exempt from a global plan to make multinational firms pay more tax to the countries where they operate, in a win for U.K. Chancellor of the Exchequer Rishi Sunak.

President Joe Biden plans to meet with regulators on Monday to discuss the health of the system they oversee and how his administration’s priorities, including on climate change and inclusion, can best be addressed.

In a reversal of a Trump-era decision, the Consumer Financial Protection Bureau says it has the legal authority to test lenders for potential violations of a law protecting military borrowers.

Bank lobbyists are once again calling on Congress to reexamine credit unions’ tax-exempt status, this time citing the proliferation of bank acquisitions by credit unions. So far, their pleas have gone largely ignored.

According to the latest Federal Deposit Insurance Corporation (FDIC)’s “How America Banks” report, there is an estimated 7.1 million unbanked households in 2019. Given the record levels of unemployment, the pandemic has brought on the FDIC expects this number to rise. Join Joe Adler, American Banker’s Washington Bureau Chief and Leonard Chanin, Deputy to the Chairman of the FDIC as they discuss the FDIC’s stance on financial inclusion and how banks can get millions of unbanked Americans into the traditional banking system.

In "Antitrust," former Democratic presidential candidate Sen. Amy Klobuchar offers little nuance in weighing the costs and benefits of concentrated economic power.

Banks need to innovate to compete with upstart fintechs, but fragmented and inflexible core systems are slowing digital transformation. Here’s how banks — with help from their regulators — can thrive amid the disruption.

It's in financial institutions' best interest to treat increasingly popular cryptocurrency assets the same as other financial assets held by their customers. And regulators must foster a safe environment for these assets by focusing on real risks like money laundering and terrorism finance.