Regulation and compliance
Regulation
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Following the lead of banking regulators, the National Credit Union Administration has proposed a rule that would eliminate references to reputational risk from its examination manuals and would forbid debanking based on political views.
October 20 -
Real due process in bank supervision is not merely administrative housekeeping — it is fundamental to the credibility, fairness and effectiveness of the regulatory system.
October 20 -
The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.
October 20 -
The enhanced Supplementary Leverage Ratio has for too long wrongly penalized low-risk market-making activity by U.S. banks. Targeted reforms come at a time when liquidity is about to be severely tested.
October 17 -
CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.
October 16 -
Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.
October 16 -
PNC CEO Bill Demchak said Wednesday that regulatory processes and enforcement actions take up half of the time that the company's board spends together. Those rules are on deck for a makeover.
October 15 -
A federal judge in San Francisco ordered a temporary halt to reduction in force orders issued by the Office of Management and Budget during the government shutdown, while OMB Director Russell Vought has said he expects to lay off more than 10,000 federal workers.
October 15 -
The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.
October 15 -
Federal Reserve Gov. Christopher Waller said Wednesday that breakthroughs in artificial intelligence will undoubtedly make life easier and lead to growth, but acknowledged that the technology's adoption will lead to short-term labor market disruptions.
October 15 -
Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency will open the bidding process for failed banks to private equity and other nonbanks, streamline resolution plans and revamp its bidding and funding models, reforms spurred by 2023's bank failures.
October 15 -
The Federal Reserve's policies are pressuring banks' balance sheets. While Chairman Jerome Powell is talking about backing off quantitative tightening, he may be waiting too long.
October 15 -
Bridge will join a number of digital asset firms vying for the coveted charter, seizing on the crypto-friendly environment in the second Trump term.
October 14 -
After a quarter in which Goldman Sachs beat Wall Street's expectations, CEO David Solomon said he was seeing a "meaningful improvement" in the macroeconomic environment.
October 14 -
Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that the central bank would unveil proposed revisions to its stress testing regime "in the next week or so."
October 14 -
The Fed hasn't been truly independent for 50 years, but the idea that it is keeps animating discussions about the central bank. True Fed independence will only arise under conditions of extensive reform.
October 13 -
The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
October 10 -
A former chair of the Federal Deposit Insurance Corp. argues that community banking in the U.S. is being slowly strangled by regulations that place heavier burdens on small banks than on giant ones.
October 10 -
As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.
October 10 -
An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.
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