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The European Central Bank is stepping up pressure on lenders to prepare for stress tests next year that will show just how vulnerable the industry is to climate change, according to people familiar with the process.
September 1 -
Five years into scandals that have already cost Wells Fargo more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls.
August 31 -
The Federal Deposit Insurance Corp. is soliciting feedback on banks' experiences with remote exams during the pandemic. Some welcome the review as a step toward a more modern examination system, while others contend the last year and a half exposed the drawbacks of long-distance oversight.
August 31 -
The Chicago subprime lender had previously warned that regulators were investigating its military lending practices. Its stock price rose by about 9% after the disclosure that the probe has wrapped up.
August 30 -
The Houston company has agreed to pay a $3 million penalty, provide $4 million in loan subsidies to new borrowers and make other investments aimed at improving home buying opportunities for Black and Hispanic households.
August 30 -
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.
August 26 -
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.
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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.
August 18 -
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.
August 17 -
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.
August 13