The Supreme Court is expected to announce its decision Monday in a much anticipated banking preemption case.
The high court heard the case, Cuomo v. Clearing House Association LLC, on April 28. At issue is whether the Office of the Comptroller of the Currency has sole power to enforce laws — even applicable state statutes — against national banks.
The decision would come as the Obama administration pushes for eliminating preemption as part of a drive to strengthen consumer protection at banks.
The integration of J.P. Morgan's Fusion platform with FactSet aims to give buy-side clients the same level of analytics available to the sell side.
The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the reporting requirements.
On her way out the door, SBA Administrator Isabel Casillas Guzman issues licenses to four more nondepository lenders.
The Bank Policy Institute, the American Bankers Association and others said proposed changes would address "some if not all" of banks' concerns about stress tests, but they are filing the lawsuit to preserve their legal right to do so.
JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.
Fintech lenders often get criticized for high rates or fees on their consumer lending. But there's an argument to be made that the alternatives are worse.
