Regulatory relief

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 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.

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.

Banking trade organizations are usually cautious about making endorsements. But with Democrats winning the White House and control of Congress on the line in the two races, some groups are pouring in cash for the GOP candidates.

The reduction marks the third time in three years the agency has cut annual fees for national banks.

Community banks that were pushed past key asset limits by the Paycheck Protection Program say they will be unable to shrink their balance sheets back to normal size by the 2022 deadline, especially if there is a new round of rescue aid.

Participation in the Paycheck Protection Program and other emergency lending during the pandemic has swelled many small banks’ balance sheets. Federal regulators are giving them a temporary pass on supervisory requirements tied to their size.

Banks are responsible for reporting their business customers' beneficial owners, but a bill that would shift that anti-money-laundering duty to businesses themselves has been added to a must-pass defense spending package.

Among the core changes in the regulation, more national banks will be able to use the agency's expedited review process to approve certain corporate transactions.

A final Senate breakdown still depends on the outcome in a few key races, but with Republicans closer to keeping power, Democrats' proposals to cap interest rates, create a postal banking system and establish a public credit reporting agency are likely dead on arrival.

If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.

If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.

The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank.

The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.

The legislation would help institutions with less than $15 billion of assets avoid regulatory requirements resulting from participating in the small-business relief program.

Regulators in the spring temporarily eased a key benchmark of balance-sheet strength to allow institutions to help customers navigate the pandemic, but Federal Reserve Vice Chairman Randal Quarles said it would be “premature” right now to suspend it for good.

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

The central bank issued a proposal aligning recent stress testing changes with supervisory standards that are tailored to an institution's size and complexity.

New research reveals the financial services industry both prefers and predicts an incumbent win in November.

The news media investigation of transactions by nefarious actors puts certain large banks in a negative light, but it also points to inefficient use of suspicious activity reports and other anti-money-laundering issues that the industry has decried for years.