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As Fincen implements an anti-money-laundering law requiring businesses to add their beneficial owners to a new database, bankers worry they'll still be on the hook to provide that information on behalf of customers for some time.
April 12 -
The agency first sought feedback in February 2020 on how it could update its logo, but the process was suspended two months later amid the COVID-19 pandemic.
April 9 -
The Department of Justice in the Trump administration hatched a plan to consider reforming its bank-merger review process, raising industry hopes about overhauling the outdated regime. But progressives want the agency to give more thought to the harm bank combinations cause consumers, including further branch closings.
April 7 -
Regulators are likely to scrap the Office of the Comptroller of the Currency’s divisive rule and instead pursue an interagency framework. But stakeholders commenting on a Federal Reserve draft plan say several aspects of the OCC regulation are worth keeping.
April 4 -
The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.
March 31 -
By purchasing additional assets and securities, the Federal Reserve provided the financial markets with enough liquidity to weather the pandemic recession. But with the economy starting to recover, it needs to reduce such funding before it creates dangerous bubbles over the long term, say two former bankers.
March 26Washington Mutual Bank -
Free investment education and testing for risk tolerance are among the ways financial firms can better reach underserved consumers, former SEC chief Jay Clayton and Operation HOPE’s John Hope Bryant say.
March 23Operation HOPE Inc. -
The Federal Reserve will determine within days whether to extend the easing of the supplementary leverage ratio for big banks past March 31, Chairman Jerome Powell says. And it's a couple of weeks away from announcing whether there will be limits on second-quarter dividends and buybacks, he says.
March 17 -
In its final days, the Trump administration imposed limits on Fannie Mae and Freddie Mac’s holdings of mortgages with loan-to-value ratios above 90% and certain other characteristics. Critics say the changes were unnecessary and disproportionately penalize borrowers of color.
March 11 -
The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.
March 11