Regulations & Policy: Page 43
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2 in 3 finance workers would quit if flex work were taken away: survey
About 18% of 700 respondents to the Deloitte study said they preferred to work from the office three or four days a week, yet 62% said they felt it would be bad for their careers if they came in less.
By Dan Ennis • Aug. 9, 2023 -
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Warren wants Goldman CEO to name bankers tied to SVB deals
The senator asked David Solomon to provide more specifics into his bank's dual role as an adviser to SVB and as a buyer of its assets.
By Dan Ennis • Aug. 9, 2023 -
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TrendlineTop 5 stories from Banking Dive
Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.
By Banking Dive staff -
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Wells Fargo to pay $200M to settle WhatsApp probes
The San Francisco-based lender is one of 11 firms, including BNP Paribas, that reached settlements with the SEC on Tuesday, as U.S. regulators continue their crackdown on records retention violations.
By Anna Hrushka • Aug. 8, 2023 -
Courtesy of KeyBank
KeyBank misled investors on liquidity, lawsuit claims
The bank blamed marginal funding costs for its downward revision of net interest income, a shareholder said. But that adjustment came less than a week before confidence in regional lenders spiraled.
By Dan Ennis • Aug. 8, 2023 -
Anna Hrushka/Banking Dive
Lawmakers blast FDIC’s ‘feeble response’ to deposit misreporting
If left unchecked, the underreporting could lead to shortfalls to the Deposit Insurance Fund, which “could threaten the stability of the entire U.S. banking system,” warned Sen. Elizabeth Warren, D-MA, and Rep. Katie Porter, D-CA.
By Anna Hrushka • Aug. 7, 2023 -
Permission granted by Office of the Comptroller of the Currency
ColumnCould OceanFirst’s CRA troubles have tanked its proposed merger?
The New Jersey lender's CRA rating dropped to “needs to improve” around the same time it announced a merger with Partners Bancorp, a new OCC report shows. The deal fell apart in November 2022.
By Gabrielle Saulsbery • Aug. 4, 2023 -
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Record number of ESG shareholder proposals go to a vote
As of June 30, approval rates for shareholder proposals focused on environmental and social issues fell compared to all of 2022, Diligent Market Intelligence said.
By Jim Tyson • Aug. 4, 2023 -
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Revolut halts US crypto trading
U.S. customers will no longer be able to buy tokens on the neobank’s platform as of Sept. 2, and crypto access for those users will be disabled a month later, the neobank said.
By Anna Hrushka • Aug. 4, 2023 -
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HSBC discloses HUD investigation of redlining allegations
The National Community Reinvestment Coalition filed a complaint this year spotlighting the bank's lending practices in majority-Black and Hispanic neighborhoods in six metro areas.
By Dan Ennis • Aug. 3, 2023 -
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Kansas City Fed names next president
The move gives the reserve bank a permanent leader ahead of the Kansas City Fed’s best-known annual event, the Jackson Hole Economic Policy Symposium.
By Dan Ennis • Aug. 3, 2023 -
Courtesy of https://press.bunq.com/media_kits/228411/
Bunq CEO: US regulators ‘tough but fair’ amid license wait
“At Bunq we’d rather do things right than rush things,” said Ali Niknam, who founded the Dutch fintech in 2012. “And the only way for us to be able to do that is by having our own bank.”
By Anna Hrushka • Aug. 2, 2023 -
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Wells Fargo expects ‘significant increase’ in risk-weighted assets
The bank reacted to regulators' proposed changes to capital requirements in a filing Tuesday. It also estimated it would pay $1.8 billion to replenish the FDIC's Deposit Insurance Fund.
By Dan Ennis • Aug. 2, 2023 -
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Digital Currency Group taps Goldman, Green Dot alum for CFO
Mark Shifke steps into the crypto firm’s top finance seat as it wraps up bankruptcy proceedings for one of its subsidiaries.
By Grace Noto • Aug. 1, 2023 -
The image by Ted Eytan is licensed under CC BY-SA 2.0
Texas judge partially blocks CFPB small-business lending rule
The preliminary injunction is valid only for the Texas Bankers Association, American Bankers Association and McAllen, Texas-based Rio Bank and its members until the constitutionality of the CFPB funding structure is determined.
By Rajashree Chakravarty • Aug. 1, 2023 -
Kendall Davis/Banking Dive
Senate ‘making good progress’ on pot banking bill, Schumer says
There may be bipartisan agreement on SAFE Banking’s goal to help the cannabis industry enter the banking fold, but lawmakers are reportedly haggling over some of the bill’s details.
By Anna Hrushka • Aug. 1, 2023 -
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FDIC seeks buyers for $18.5B in Signature Bank loans
The portfolio is made up of 201 loans to private equity firms, and part of the $60 billion in Signature loans the FDIC plans to offload.
By Gabrielle Saulsbery • July 31, 2023 -
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How banks could fit into Elon Musk’s plans for an ‘everything app’
The billionaire’s intent to bring the social media platform into the banking and payments landscape presents both opportunities and risks for traditional banks, experts said.
By Anna Hrushka • July 31, 2023 -
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BNP Paribas may be next to settle WhatsApp probes by SEC, CFTC
The French bank has reached "proposed resolutions" with the regulators. And it disclosed that it set aside €125 million for litigation. But the bank declined to say whether the two moves were related.
By Dan Ennis • July 28, 2023 -
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Bank trade groups seek more transparent Fed stress tests
The Bank Policy Institute and American Bankers Association asked the central bank to make public all models, formulas and methodologies used to determine stress capital buffer requirements.
By Rajashree Chakravarty • July 27, 2023 -
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Fed, FDIC, OCC propose 19% boost in held capital for biggest banks
The 1,089-page proposal also would force banks with $100 billion in assets to account for unrealized gains and losses on some securities and alter the way banks calculate risk-weighted assets.
By Dan Ennis • July 27, 2023 -
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Wyoming looks to hire stablecoin chief
The role comes with a paycheck $10,000 higher than that of Gov. Mark Gordon, who allowed the stablecoin bill to pass without his signature in March.
By Gabrielle Saulsbery • July 27, 2023 -
Win McNamee via Getty Images
Fintechs ‘deeply concerned’ with Senate SBA bill
A bill aimed at reining in the SBA’s 7(a) expansion plan would subject nonbanks to unfair and overly burdensome regulations, fintech trade groups said.
By Anna Hrushka • July 26, 2023 -
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Fintech trade group grows educational arm
The American Fintech Council is partnering with professional services firm FORVIS to offer compliance and training opportunities aimed at improving the fintech ecosystem, AFC CEO Phil Goldfeder said.
By Gabrielle Saulsbery • July 26, 2023 -
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DWS gears up for record SEC greenwashing settlement
The Deutsche Bank-owned asset manager set aside more than €20 million for a penalty that sources told Reuters would come by September.
By Dan Ennis • July 26, 2023 -
Binance seeks dismissal of CFTC suit
A Monday court document shows Binance's intention to shut down a CFTC suit claiming it violated certain regulations.
By Gabrielle Saulsbery • July 25, 2023
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