Regulation and compliance
Regulation and compliance
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A Texas judge refused the Consumer Financial Protection Bureau's effort to put a lawsuit on hold against Dallas-based Comerica Bank, claiming the stay would "harm Comerica's reputation."
March 11 -
Bipartisan legislation before Congress would create sensible regulation for stablecoins, opening a path to cementing the U.S. dollar's status as the world's most important currency.
March 11 -
In a letter to Federal Reserve Chair Jerome Powell, Sen. Elizabeth Warren called on the Fed to impose penalties and sanctions on leaders of the failed bank.
March 10 -
New research on the failures of Silicon Valley Bank and other regional banks in 2023 points to cyclicality of venture capital and the volatility of crypto as bigger factors than uninsured deposits or unrealized losses.
March 10 -
President Trump and Elon Musk probably would not have put Rohit Chopra and his CFPB on their hit list had he run it with common sense, balancing the interests of both the financial industry and their consumers. An independent and consolidated federal consumer financial protection agency is needed, but only if a fair-minded leader runs it.
March 10 -
The Office of the Comptroller of the Currency reversed policies on crypto banking, withdrawing its guidance on custody, stablecoin reserves and risk management requirements.
March 7 -
Federal Reserve Chair Jerome Powell emphasized the need for patience amid uncertainty over the Trump administration's policies, saying there would be no immediate rate changes but that the Fed would proceed carefully.
March 7 -
The Internal Revenue Service holds a massive trove of sensitive data about American taxpayers that would be of inestimable value to a company operating in the private sector. Protecting it is a matter of national security.
March 7 -
Banks have embraced the Federal Deposit Insurance Corp.'s swift reversals on a range of topics, but the regulatory whiplash is complicating long-term business planning.
March 7 -
The Financial Integrity and Regulation Management Act would stop prudential regulators from writing rules or guidance that involve any use of reputational risk in supervision.
March 6