Regulations & Policy: Page 25
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Fed, FDIC, OCC delay effective date for parts of CRA
One change eliminates a loophole that would have forced some banks to re-draw their assessment areas before April 1, only to return to a current threshold in 2026.
By Dan Ennis • March 25, 2024 -
Anna Hrushka/Banking Dive
‘Lax lending practices’ led to Iowa bank’s downfall: FDIC OIG
The report called out inaction on the part of the community bank’s management to address issues flagged by regulators in recent years.
By Caitlin Mullen • March 25, 2024 -
Explore the Trendline➔
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TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Courtesy of Cannabis plants
Yellen open to cannabis banking legislation
Cannabis’ federal illegality presents a hurdle for banks, which remain concerned about violating anti-money laundering laws.
By Gabrielle Saulsbery • March 22, 2024 -
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Regulators defend Basel III pursuit, global financial stability
Top-ranking officials at the Fed, the FDIC and the OCC testified before the House Financial Services Committee on Thursday, emphasizing the importance of coordination between international and national financial authorities.
By Rajashree Chakravarty • March 22, 2024 -
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Advocates urge transparency in Capital One-Discover review
More than 30 organizations demanded the deal not be subject to expedited federal review and that public hearings be held in the largest lending markets for both Capital One and Discover.
By Caitlin Mullen • March 22, 2024 -
Anna Hrushka/Banking Dive
FDIC proposes more scrutiny of bank mergers
Deals to create banks with $100 billion or more in assets would see greater focus on anti-money laundering and financial stability. Smaller mergers would weigh the impact to local communities.
By Dan Ennis • March 21, 2024 -
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He could get 5 years. He could get 100. For how long will Sam Bankman-Fried go to prison?
Ryan Lee O'Neill, a New Jersey-based defense attorney, has represented countless defendants in the FTX founder's place. She has her own estimates.
By Gabrielle Saulsbery • March 20, 2024 -
Permission granted by U.S. Bank
U.S. Bank to pay $6M to settle CFTC WhatsApp probe
The penalty comes a month after the SEC ordered the Minneapolis-based bank to pay $8 million over record-keeping failures and alleged use of off-channel communications.
By Caitlin Mullen • March 20, 2024 -
Permission granted by Avenga
Sponsored by AvengaSecuring tomorrow: How will DORA impact the financial industry, and what should organizations do to prepare?
The European financial industry is bracing for a significant shift with the impending arrival of the Digital Operational Resilience Act (DORA).
By Adel Al-keysi, Director of Information Security Compliance, Avenga • March 18, 2024 -
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SEC busts company behind $300M crypto Ponzi scheme targeting Latinos
Under the leadership of Gary Gensler, the SEC has intensified efforts to protect investors involved in what he calls the “Wild West” of crypto assets.
By Jim Tyson • March 15, 2024 -
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ColumnDive Deposits: Citi allegations put junior banker treatment back in spotlight
Allegations of verbal harassment, in context with BMO's firing of several bankers in a bullying case, put a power dynamic under the microscope.
By Dan Ennis • March 15, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan Chase fined $348.2M over gaps in trade data reporting
The bank “failed to surveil billions of instances of trading activity on at least 30 global trading venues,” the OCC alleged. “These gaps and deficiencies … constitute unsafe or unsound banking practices.”
By Dan Ennis • March 14, 2024 -
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UK proposal would make banks give customers 3 months’ notice before ‘debanking’
The legislative move comes months after NatWest's CEO stepped down in the wake of allegations that a former Brexit Party leader was "de-banked" over his political views.
By Rajashree Chakravarty • March 14, 2024 -
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Operational resilience regs may be on the way: OCC’s Hsu
While resilience from issues internal and external may take a back seat to capital and liquidity issues, it “warrants our full attention, especially in our highly interconnected world,” Acting Comptroller of the Currency Michael Hsu said.
By Gabrielle Saulsbery • March 13, 2024 -
Anna Hrushka/Banking Dive
FDIC vice chair wants regulators to hurry up on addressing tokenization
Tokenization could be a "major leap" for the monetary system. Travis Hill doesn't want the U.S. to be left out.
By Gabrielle Saulsbery • March 12, 2024 -
Kent Nishimura via Getty Images
Senators press FDIC, others for answers on SVB, Signature
Sen. Bill Hagerty, R-TN, asked the FDIC why it chose a bid from Related Fund Management in an auction of Signature loans, when Brookfield Property Group offered to pay 14% more for them.
By Rajashree Chakravarty • March 12, 2024 -
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How Golden 1 used AI to find ‘good risk’
The credit union partnered with Zest AI to build its own customized credit scorecard and has seen a 28% increase in approvals to protected classes of borrowers, Golden 1's CEO said.
By Ken McCarthy • March 12, 2024 -
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Compliance, overdraft fees may get greater focus in left-leaning NCUA
Liquidity and interest rate risk remain “very high priorities” for regulatory agencies, credit union executives said at a conference last week.
By Ken McCarthy • March 11, 2024 -
Courtesy of U.S. Bank
OCC clears U.S. Bank from MUFG Union consent order
The enforcement action, for failing to meet federal IT security guidelines, was issued just one day before U.S. Bank announced its $8 billion acquisition of MUFG Union.
By Rajashree Chakravarty • March 8, 2024 -
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Deep DiveA year after SVB, what’s improved and what needs work?
Banking Dive looks at six factors — from upcoming regulations to commercial real estate — to see how the landscape has changed between the crises of 2023 and 2024.
By Dan Ennis • March 8, 2024 -
Spencer Platt / Staff via Getty Images
NYCB names ex-OCC chief Otting as CEO
Former Treasury Secretary Steven Mnuchin will take a seat on the bank's board after his Liberty Strategic Capital and other investors infused NYCB with $1.05 billion.
By Dan Ennis • March 7, 2024 -
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Powell eyes ‘broad,’ ‘material’ changes to capital requirements proposal
The Fed chair cited “voluminous” public comments the proposal has elicited but wouldn’t dismiss the idea that the regulation could be re-proposed or withdrawn.
By Dan Ennis • March 7, 2024 -
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Powell predicts CRE woes will hit smaller banks hardest
The Federal Reserve, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.
By Jim Tyson • March 7, 2024 -
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29 House Republicans urge Fed to withdraw capital requirements plan
The letter comes as the central bank's supervision chief is rewriting the proposal, Reuters reported, with expected changes to the way potential losses and risk weights are calculated.
By Dan Ennis • March 6, 2024 -
Permission granted by TD Bank
ColumnDive Deposits: TD gives its AML woes long-haul messaging
The bank's First Horizon stumble is as woven into its fabric as the Revlon error is for Citi, or the fake-accounts scandal is for Wells Fargo, if one looks at TD's responses to analysts.
By Dan Ennis • March 6, 2024
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