Regulation

Consumer advocates have long wanted to restrict banks' ability to collect overdraft fees. The Empire State's new law represents a small but consequential breakthrough as they push for nationwide reform.

Community banks have played and will continue to play a key role in supporting local economies across the country. Join us in a lively conversation with Dennis E. Nixon, President & CEO of International Bank of Commerce (Laredo, Texas) & Chairman, International Bancshares Corporation and Eddie Aldrete, Senior Vice President at International Bank of Commerce as we discuss: (1) the need for bankers and the business community to become involved in political issues. From minimum wage and issues that affect small businesses to regulatory issues that directly affect the banking industry, banking and business leaders need to be thought leaders in the public conversation and (2) how bankers can play a pivotal advocacy role in the free trade process.

The agency signaled during the Trump administration that it would approve more industrial loan companies following an extended freeze in new charters due to policy disputes. But the thaw will likely prove temporary now that the board's makeup has changed.

The U.S. and its neighbor to the north are each developing frameworks to give consumers control over financial data and allow companies to transfer account information. A recently issued Canadian government report could influence efforts in both countries, analysts say.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

Banks are traditionally the target of anti-money-laundering regulations and law enforcement’s efforts to crack down on illicit finance. As the cryptocurrency sector grows, policymakers may subject it to customer identification requirements and other measures, analysts say.

The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.

This year’s stress tests examined 23 banks including JPMorgan Chase and Goldman Sachs, with the remainder of the firms on an “every other year” test cycle. The capital requirements for those remaining firms are unchanged from last year.

Banks should favor the development of U.S. data rules that let them freely share consumer information with, and receive it from, fintechs. The alternative, where banks merely send data to third parties for a fee, would be less competitive and less beneficial for all parties.

Sen. Patrick Toomey, the top Republican on the Banking Committee, criticized acting Comptroller of the Currency Michael Hsu and others in the Biden administration for advancing “social goals that are unrelated to banking.”