Detecting business dealings with banned parties means screening a maze of transactions, and Treasury’s Office of Foreign Assets Control supports calls for the industry to take a risk-based approach. But regulators effectively require banks to track everything, which is unproductive.

The Federal Reserve imposed the restrictions after conducting supplemental stress tests tied to the pandemic. But Vice Chair of Supervision Randal Quarles says it is now clear banks would have had sufficient capital regardless.

As the Consumer Financial Protection Bureau slowed its pursuit of bad actors, state attorneys general vowed to pick up the slack. Here’s why they fell short — and why they are poised to get aggressive again.

Federal Reserve Chair Jerome Powell said bank regulators still aim to write a universal rule updating the Community Reinvestment Act, despite years of disagreement between the agencies on how to proceed.

The Alabama company is instead on the hunt for nonbank acquisition candidates as well as employees or clients it could lure away from regional banks that have announced merger deals recently, John Turner says.

Lost in the debate about whether to make fintechs comply with the Community Reinvestment Act is that many of them already partner with banks to make loans in low-income neighborhoods.

The U.K. got an earlier start on open banking implementations, prompting European merchants and fintechs to turn to payments-as-a-service providers for rapid deployment.

Banks lowered their loss provisions at the end of 2020, a sign they feel better about this year than last year, according to data from the FDIC. But loan balances fell for the second straight quarter and the annual loan growth rate was the lowest in seven years.

Chair Jerome Powell told a congressional panel that the Federal Reserve is weighing whether to extend temporary relief from the “supplementary leverage ratio” — meant to help banks lend more during the pandemic — beyond March 31.

Small shops are facing more competition online. Combined with the impact of Brexit, this has made it even more important for businesses to sell overseas.

It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

If policymakers are serious about revitalizing low-income communities, they should require all fintechs and other nonchartered lenders to adhere to the Community Reinvestment Act.

Libre by Nexus deceived detainees into believing they owed a monthly charge related to their proceedings before U.S. Immigration and Customs Enforcement, according to a lawsuit filed by the consumer bureau and three states.

The five-year pledge, tied to the company's pending acquisition of CIT Group, earmarks nearly $6 billion for small-business lending and $3.2 billion for affordable housing.

Only businesses with 20 or fewer employees will be eligible to apply for forgivable loans from the Small Business Administration's Paycheck Protection Program.

The Office of the Comptroller of the Currency issued a prompt corrective action directive to First National Bank and Trust in January, requiring it to hire a forensic auditor and provide the OCC with access to documents and records.

The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.

The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and a “satisfactory” rating in 2018.

The Small Business Administration wants to vet Paycheck Protection Program loans of $2 million or more, but lenders have grown tired of waiting for months with no updates.

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.