Regulation and compliance
Regulation
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The blockchain startup Figure Technologies and other firms held talks with U.S. regulators about how to issue a stablecoin that satisfies watchdogs amid deep Washington skepticism over the fast-growing corner of the cryptocurrency market.
November 22 -
A well-intentioned report from federal banking regulators was flawed in recommending that only insured depository institutions be permitted to issue stablecoins. Here's why.
November 19 -
Banks must report major cyberattacks to regulators within 36 hours if the incident is likely to disrupt their business, according to a new rule from U.S. regulators.
November 18 -
Regulators are requiring an operational overhaul at The Federal Savings Bank. Its former CEO Stephen Calk, who sought a job in the Trump administration, was convicted in connection with loans the bank made to onetime Trump campaign chair Paul Manafort.
November 18 - AB - Policy & Regulation
Christopher Waller, a member of the Federal Reserve Board, warned that blocking nonbank entry into payment systems would stifle innovation. His remarks appeared to contradict a recent report in which Fed Chair Jerome Powell and others recommended that only banks be allowed to issue stablecoins.
November 17 -
No matter the outcome of the confirmation battle over Saule Omarova — the Biden administration nominee for comptroller of the currency whom many bankers view as too liberal — policymakers must still resolve this fundamental question: Are banks public utilities or private companies with special privileges?
November 17 -
The consumer bureau is asking for comment on whether the rule implementing the Home Mortgage Disclosure Act is meeting its stated goals of detecting discrimination in mortgage lending.
November 16 -
Graham Steele, a strong proponent of safeguarding the financial system against climate risks, was approved by a 53-42 vote as assistant secretary for financial institutions at the Treasury Department.
November 16 -
The retired Laurence Bensignor is prohibited from working for “any insured depository institution or any holding company of an insured depository institution” because of his failure to disclose key information about an alleged insider-loan scheme, the Federal Reserve says.
November 16 -
The problems were revealed during recent examinations conducted by the Federal Reserve Bank of New York on the Chinese bank’s U.S. operations.
November 16 -
Ripple Labs, which is locked in a bitter court battle with the U.S. Securities and Exchange Commission, has an unsurprising recommendation for Washington policy makers: limit the regulator’s role in policing cryptocurrencies.
November 16 -
The Federal Housing Administration’s capital fund is at a 14-year high, which industry groups say is proof borrowers are paying to much for mortgage insurance. But with elevated delinquencies resulting from the pandemic, officials said they remain cautious about pricing.
November 15 -
A bipartisan team of U.S. senators is introducing a bill to narrow some cryptocurrency tax reporting rules that were laid out in the infrastructure legislation that’s set to become law on Monday.
November 15 -
The bank was fined $150 million for anti-money-laundering violations because it missed — or ignored — numerous red flags in its dealings with the convicted sex offender. Here's what it should have done differently.
November 15 -
Circle, the principal operator of the second-biggest stablecoin, sees potential growth with corporate balance sheets as it broadens its geographic footprint and product offerings.
November 15 -
Jes Staley exchanged 1,200 emails with Jeffrey Epstein from 2008 to 2012 and the correspondence showed a close relationship between the pair, the Financial Times reported, citing people familiar with the correspondence.
November 12 -
A former vice president in JPMorgan Chase’s anti-corruption unit claimed in a lawsuit that she was marginalized, mistreated and fired from the bank for complaining about compliance failures.
November 11 -
The federal bank regulators had relaxed certain requirements in April 2020 due to the COVID-19 crisis. But they said in a new joint statement that servicers “have had sufficient time to adjust their operations” since that time.
November 10 -
The Federal Reserve is mulling changes to a key capital measure for big banks, rulings on several merger applications and other actions. How it ultimately decides those matters will depend largely on whom President Biden appoints as head of the central bank and to other leadership positions.
November 9 -
The U.S. unit of Spain’s Banco Santander is the latest bank to make it easier for customers to avoid the charges.
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