Regulation

Burdensome regulations have decimated correspondent banking relationships, harming the most vulnerable in the U.S. and abroad.

Some lenders to companies owned by women, minorities and veterans say they'd prefer that the Small Business Administration strengthen its Community Advantage program rather than bring them into the agency's flagship loan-guarantee program.

In a joint review published Friday, the Federal Reserve and Federal Deposit Insurance Corp. found problems with two foreign banks' bankruptcy resolution plans.

In a joint statement, the agencies said the public would have another month to respond to the various questions posed about living wills in October.

The National Credit Union Administration board voted Thursday to advance a proposed rule that would loosen existing regulations and allow credit unions to purchase member loans from fintechs.

Danske Bank A/S admitted to fraud and agreed to forfeit $2 billion to end a long-running U.S. probe into money laundering at its Estonia branch, an embarrassing episode that led to the ouster of top management and pushed thousands of customers to leave.

The National Credit Union Administration's emergency exemption allowing for remote board and membership meetings at federally chartered institutions is scheduled to lapse at year-end. The agency's chairman recommended hybrid meetings as an option that can satisfy traditional meeting requirements.

Santander UK was fined £108 million ($132 million) by the U.K. financial watchdog over repeated anti-money-laundering failures that included a series of missteps over its monitoring of hundreds of millions of pounds of suspicious funds.

Marijuana shops across the U.S. are rushing to find alternative ways for customers to pay after networks that supported a popular workaround to the banking system began to shut down last week.

In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.