-
A state regulator group has agreed to pause its lawsuit challenging Figure Technologies’ application as the federal agency reviews chartering policies. But analysts caution that the underlying conflict over nontraditional firms seeking banking powers is far from resolved.
June 18 -
The Biden administration wants financial institutions to tell the government more about their customers to help the IRS thwart wealthy tax evaders. But critics say the plan could threaten account data security and the privacy of even low-income consumers.
June 17 -
Federal Reserve Chairman Jerome Powell said the market dislocations of the past year resulting from the pandemic had changed the impact that the supplementary leverage ratio was having on the largest banks. After temporarily easing the requirement, the central bank is considering longer-term reforms.
June 16 -
In a reversal of a Trump-era decision, the Consumer Financial Protection Bureau says it has the legal authority to test lenders for potential violations of a law protecting military borrowers.
June 16 -
Bank lobbyists are once again calling on Congress to reexamine credit unions’ tax-exempt status, this time citing the proliferation of bank acquisitions by credit unions. So far, their pleas have gone largely ignored.
June 16 -
Six Clovers, a digital payments company founded by two former PayPal developers, designed its Rapid platform to enable fast cross-border transactions using cryptocurrencies backed by government-issued money.
June 15 -
The data analytics provider has deployed cloud hosting to scour international payments for signs of fraud and money laundering.
June 15 -
Randal Quarles, the Federal Reserve's vice chair for supervision, says the central bank was wise not to require banks to build capital cushions in the lead-up to the pandemic. But that decision rested on a misleading a narrative and could wind up threatening the economic recovery.
June 14University of Michigan -
The appointments of former senior leaders from a rival regulator could force the Office of the Comptroller of the Currency to embrace interagency cooperation after taking a go-it-alone approach during the Trump administration, some observers say. Others worry about another extreme: the Federal Reserve having outsize influence over financial policy.
June 11 -
According to the latest Federal Deposit Insurance Corporation (FDIC)’s “How America Banks” report, there is an estimated 7.1 million unbanked households in 2019. Given the record levels of unemployment, the pandemic has brought on the FDIC expects this number to rise. Join Joe Adler, American Banker’s Washington Bureau Chief and Leonard Chanin, Deputy to the Chairman of the FDIC as they discuss the FDIC’s stance on financial inclusion and how banks can get millions of unbanked Americans into the traditional banking system.