BankThink
If the loophole in the GENIUS Act isn't closed, the flow of money into stablecoins will wind up reducing the Community Reinvestment Act funding that many underserved communities rely on for development.
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The head of the Managed Funds Association takes issue with a recent column calling for stricter oversight of nonbank financial institutions.
November 20
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The proposal to push up some federal deposit insurance coverage to $10 million per account would encourage banks to take excessive risks while leaving consumers with the bill.
November 19
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The rise of stablecoins is once again raising questions about the purpose of money, should it be regulated as a public good facilitating commerce, or a private claim to a specific asset?
November 18
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From private credit to stablecoins, firms with scant oversight have been allowed to gobble up business that formerly went to regulated banks. Until balance is restored, the system is overburdened with risk.
November 17
Ludwig Advisors
Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.
MetroCity Bankshares in Doraville, Georgia, plans to finalize its acquisition of First IC Corp; Rockefeller Capital Management's Brian D. Riley will join BNY Wealth as global head; Blackstone appoints former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe; and more in this week's banking news roundup.
HoldCo Asset Management drops its pursuit of proxy battles with Columbia Banking System and First Interstate; Cape Cod's Mutual Bancorp prepares to acquire Bluestone Bank; Servbank HoldCo announces plans to acquire IF Bancorp; and more in this week's banking news roundup.
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