Regulation

A Republican-led effort to raise Bank Secrecy Act reporting thresholds gains momentum amid debanking rhetoric as lawmakers eye must-pass defense authorization as vehicle for financial regulatory reform.

The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.

The amount was less than $1 million, but the plot reveals clues that can help spot and fight elderly abuse and other financial crimes.

The American Fintech Council publicly declared support for California SB 69, which would require "internal expertise" for artificial intelligence regulation.

Bank industry advocates, housing groups and CRA veterans say the rule is overly complexity and burdensome, but even they agree pre-approving CRA-eligible activities was a good idea.

The Office of the Comptroller of the Currency Thursday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.

Banks want to reclaim their position as the central node in the customer relationship by charging fintechs and data aggregators for access to permissioned customer data. How the legal questions about this are resolved will be a telling moment for all concerned.

Bank trade groups have asked a federal court to halt enforcement and extend compliance dates for the Consumer Financial Protection Bureau's open banking rule that was enacted during the Biden administration. The move comes as the lobbying fight over how the rule will be rewritten intensifies.

The crypto-focused firm's OCC trust bid would shift supervision from New York to Washington at a time when regulators are signaling openness to fintechs engaging in banking

The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.