Policy & Regulation

The order stemmed from a cybersecurity breach in 2022. The Office of the Comptroller of the Currency also lifted the bank's "troubled condition" status.

Federal Reserve Gov. Christopher Waller said the central bank's last framework review was too focused on the post-global financial crisis period and difficult to explain.

The Consumer Financial Protection Bureau has long been a target for conservative ire, but dismantling it would require Congress' cooperation.

"Delete CFPB. There are too many duplicative regulatory agencies," Musk wrote in a post on X. 

Reps. Andy Barr, R-Ky., and French Hill, R-Ark., leading Republicans on the House Financial Services Committee, pushed back against Federal Deposit Insurance Corp. Chair Martin Gruenberg's characterization of the Synapse collapse in his July brokered deposits proposal.

While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

Canada's banking regulator is beefing up its rules on corporate culture, saying that it expects executives and boards to be accountable.

The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.

Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.