Regulation and compliance
Regulation
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The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money-laundering order in 2021. Its stock price fell sharply after the news broke.
September 12 -
A letter led by Sen. Elizabeth Warren, D-Mass., urges bank regulators to crack down on banking as a service, while another led by Sen. Jack Reed, D-R.I., asks that the Consumer Financial Protection Bureau more closely monitor buy now/pay later companies.
September 12 -
Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.
September 12 -
The law that created the Consumer Financial Protection Bureau stipulates that the agency must be funded by the central bank's earnings. But, the Fed has been losing money for two years. Therefore, its payments to the agency are not legal.
September 12 -
The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures.
September 11 -
Fieldpoint Private Bank & Trust and its parent company entered a written agreement with state and federal supervisors pledging to address several compliance issues.
September 11 -
When it comes to delivering superior return on average equity, smaller banks frequently punch above their weight, according to a recent study by Capital Performance Group and American Banker.
September 11 -
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Large banks welcomed regulators' proposed changes to last year's controversial reform package, but remain skeptical about the need for more capital.
September 11 -
Federal Reserve Governor Michelle Bowman called for reforms to reduce volatility, increase transparency and address overlaps in stress tests and capital requirements for banks.
September 10 -
A bill from Rep. Andy Barr, chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, would make it harder for regulators to enter into international regulatory agreements like Basel III.
September 10 -
In his reset of the Basel III endgame proposal outlined Tuesday, Federal Reserve Vice Chair of Supervision Michael Barr deemphasized the connection between last year's bank failures and raising capital. That makes a world of sense.
September 10 -
Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, including largely excluding banks with less than $250 billion of assets.
September 10 -
As the Consumer Financial Protection Bureau increases scrutiny of earned wage access, cash-back fees and airline rewards, industry lobbyists are pushing back, while some groups cheer the move.
September 10 -
Consumer Financial Protection Bureau Director Rohit Chopra will be looking at whether automation accommodates or undermines potential savings from refinancing.
September 10 -
The agency's recent proposal to redefine "brokered deposits" requires a debate over the performance of different kinds of bank deposits. The problem is that the necessary data isn't available yet.
September 10 -
The Basel capital rules long ago proved themselves to be ineffective and unwieldy. A former FDIC chairman said that history offers us a better alternative in the form of a regulator-centric model rooted in a pre-Basel approach to oversight.
September 9 -
The Public Company Accounting Oversight Board staff released a report Monday on last year's banking crisis.
September 9 -
After months of anticipation, Federal Reserve Vice Chair for Supervision Michael Barr is set to lay out the path forward for the interagency regulatory capital reform effort known as the Basel III endgame on Tuesday.
September 9 - AB - Policy & Regulation
Morgan Stanley will have to pay $2 million for failing to flag trading in First Republic Bank by its former CEO. The transactions happened in the lead-up to the regional bank's collapse.
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