Regulation

The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market it has viewed as strategically important for several years.

The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.

With financial crime surging worldwide, it is critical that the public and private sectors align on a shared vision to collectively focus on combating bad actors and to eliminate their ability to launder the proceeds of criminal activity.

The collection of beneficial ownership data is vital to fighting money laundering. It should be more broadly accessible, and should cover more businesses.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg says the agency would likely use a resolution strategy for a global systemically important bank that puts the holding company into resolution and keeps subsidiaries operating under a bridge company.

A new report sheds light on the lack of player protections against scams and exploitive data collection practices of video game companies.

Senate Majority Leader Chuck Schumer, D-N.Y., tapped executive compensation and cannabis banking bills as bipartisan priorities that could see movement in the Senate in the "weeks and months ahead."

The steady drumbeat of consent orders against banks that offer banking as a service continues, with regulators telling banks to keep a closer eye on their fintech partners' compliance with the Bank Secrecy Act and money laundering rules.

Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.

The change, which goes into effect April 1, delays when certain banks would have to change their assessment areas until 2026.