Regulation and compliance
Regulation
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FCUs are regaining their appeal given the resources NCUA has put into helping de novos and the potential for expanded fields of membership.
October 23 -
A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller of the Currency’s special-purpose charter.
October 22 -
The Corporate Transparency Act would require companies to report their true owners to the Financial Crimes Enforcement Network, removing the burden of banks to collect beneficial ownership information about their clients.
October 22 -
At a House hearing covering a whole host of housing finance reform topics, Fannie Mae and Freddie Mac's regulator said "if the circumstances" call for eliminating investors, "we will."
October 22 -
The Massachusetts senator and presidential candidate warned the Treasury secretary not to use the incident as a rationale for weakening regulations.
October 22 -
New tech can help banks with less cumbersome systems track suspicious activity more effectively.
October 22 -
Facebook’s cryptocurrency would not help underserved communities, despite the claims of its CEO, who is slated to appear before Congress this week.
October 22 -
Following months of preparation, Visa, Mastercard, American Express and Discover announced the launch of "click to pay," a new streamlined checkout process that functions similarly at all participating e-commerce sites.
October 22 -
An analysis of industry data shows CUs are not the leader in that space they have long claimed to be. Here's why that could come back to bite institutions later on.
October 22 -
Will the justices go further than answering constitutional questions about the bureau's leadership structure?
October 21 -
Complaints that banks, credit unions and nonbanks compete on an uneven playing field should be heard, just as community banks must take seriously the threats from high-tech rivals, says Julie Stackhouse, a retiring supervision official at the St. Louis Fed.
October 21 -
The judge sided with the New York State Department of Financial Services, which had sued the OCC over the proposed charter.
October 21 -
The chairman acknowledged the timetable is "ambitious."
October 21 -
The nation's largest bank is hiring former prisoners for entry-level jobs and funding a policy center whose mission will be to help adults with criminal histories reenter the workforce.
October 21 -
The group's Wake Up initiative will include legislative and regulatory proposals, along with added resources to help members push for a level playing field.
October 21 -
Facebook's original proposal for Libra was to develop a sweeping, global currency with the backing of the world's biggest companies. Now, with fewer companies on its side and a massive backlash by lawmakers, Facebook is loosening one of Libra's core values.
October 21 -
The National Credit Union Administration board is expected to tackle a rule on nonmember shares this week while the House Financial Services Committee will examine Facebook's effect on financial services.
October 21 -
As lawmakers tackle Fannie Mae and Freddie Mac, any revamp must lessen risk to the mortgage system and U.S. taxpayers.
October 21 -
Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth.
October 21 -
Draft legislation would amend the Bank Service Company Act to give the National Credit Union Administration third-party vendor oversight, a power it has been requesting for the better part of two decades.
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