The agency’s second in-depth study of the community banking sector pointed to continued challenges for local institutions from the pandemic and other headwinds, but many smaller banks are reaping the benefits of M&A and holding their own against larger competitors in key lending categories.

The two groups have launched a new effort to promote the benefits of being certified as a community development financial institution.

As with most things related to 2020, COVID-19 will be a deciding factor as the Federal Reserve considers whether banks are able to increase their dividends or resume share buybacks.

The regulator is expected to finalize a rule this week allowing credit unions to issue subordinated debt to outside institutional investors. That's bad public policy, the American Bankers Association writes.

Two large deals happened this week in Australia to build scale against international financial services encroachment from card schemes and cross-border financial services — a concern that's cropping up in several nations.

The revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated. Meanwhile, new standards for industrial loan company parents aim to clarify the bank chartering process for fintechs and other nontraditional firms.

Hauptman said dealing with the economic fallout from the coronavirus was a top priority for the agency, along with aligning incentives and expanding the use of technology in the industry.

Ride-sharing apps always seem to be racing to be something else — or at least something more — especially given the coronavirus pandemic's impact on travel. With a banking license in Singapore, Grab can add fuel to the strategy.

The Gainesville, Fla.-based credit union has converted from a federal to a state charter and will debut its new brand identity early next month.

The central bank is exploring how to improve the consistency and transparency of safety and soundness scores used to grade banks and their holding companies, the agency’s vice chairman of supervision said.

The agency's principals are scheduled to meet Dec. 15 to vote on a new definition for brokered deposits and on regulatory standards for industrial bank parents.

The credit union regulator's monthly meeting will cover the agency's budget proposal and subordinated debt, among other items, along with taking another shot at an overdraft proposal that was rejected earlier this year.

The consumer bureau's revamp of criteria for "qualified mortgages," a special regulatory class of loans free from liability, emphasizes pricing instead of a borrower's debt-to-income ratio.

The company’s noninterest expenses are expected to rise more than $500 million next year, largely because of a revamp of risk management and internal controls mandated by regulators.

A defense spending package includes a measure requiring new businesses to report their beneficial owners directly to the Financial Crimes Enforcement Network, shifting the burden away from banks.

Lawmakers need to create a coronavirus relief program targeting owners of smaller businesses facing more hardship than larger competitors that received much of the aid from the Paycheck Protection Program.

The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.

Executives from U.S. banks continue to play down near-term expectations, but they say customers are growing more confident ahead of the rollout of coronavirus vaccines, and that key commercial lending segments could drive an economic rebound.

A number of top Wells executives privately expect it won’t be able to escape the limit on assets until late next year at the earliest, while key Fed officials see the process dragging into 2022 or beyond, according to people familiar with their thinking.

On the same day that Mr. Cooper announced a settlement with state and federal authorities over its servicing practices, the Dallas company, U.S. Bank and PNC reached separate agreements with DOJ regarding bankrupt borrowers.