Regulation

House Republicans' accusation that government agencies are being weaponized against political conservatives underlines a longstanding challenge for banks: Balancing customers' data privacy and stopping financial crime.

Banking regulators have been debating how to reform the implementing regulations for the Community Reinvestment Act across two presidential administrations. But despite banks' urging to slow down, regulators are poised to finish the job in early fall.

News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.

The American Bankers Association and Bank Policy Institute Tuesday urged bank regulators to delay the finalization of its Community Reinvestment Act rule, saying regulators have not calibrated the rule to account for upcoming capital changes or considered whether courts will find the Consumer Financial Protection Bureau's funding structure constitutional.

The subpoena is part of a growing Republican narrative that Democrats have weaponized the Federal Bureau of Investigation against conservatives.

Fannie Mae and Freddie Mac can likely withstand potential credit losses twice as high as last year's in the latest scenario, but they are at more risk of slipping into the red.

The new rule sets a nationwide standard for disclosing all "material" breaches within four days — much sooner than many state-level disclosure rules.

The National Credit Union Administration voted unanimously to make it easier for boards of directors to ban problematic members.

Gacki, who has served since 2019 as director of Treasury's Office of Foreign Assets Control, will replace acting Fincen Director Himamauli Das. Her appointment comes as the Biden administration seeks to enforce sanctions against Russia and implement rules aimed at identifying undisclosed shell company owners.

The implementation plan the Biden administration released on Thursday seeks to shift liability for data breaches onto "the biggest, most capable" entities. Does that mean banks?