Regulations & Policy: Page 59
-
Mario Tama via Getty Images
Citi wins appeal on $500M Revlon loan blunder
“Put simply, you don’t get to keep money sent to you by mistake unless you’re entitled to it anyway,” one judge wrote in his opinion.
By Anna Hrushka • Sept. 9, 2022 -
Chip Somodevilla via Getty Images
Gensler: Securities laws cover ‘vast majority’ of crypto tokens
The SEC chief signaled he would cooperate with the CFTC to the extent that “it needs greater authorities with which to oversee and regulate crypto non-security tokens.”
By Maura Webber Sadovi • Sept. 8, 2022 -
Explore the Trendlineâž”
Permission granted by Frost Bank
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 -
Retrieved from Senate Banking Committee.
OCC zeroes in on bank-fintech partnership risk
The growth of fintechs and banking-as-a-service mirrors a rise in shadow banking that sparked the 2008 financial crisis, Acting Comptroller Michael Hsu said at a banking conference Wednesday.
By Anna Hrushka • Sept. 8, 2022 -
Win McNamee via Getty Images
10 takeaways from Michael Barr’s first speech as Fed’s supervision czar
The regulator pushed a tiered set of capital requirements and stricter living wills for regional banks. He also clarified the central bank’s stance on climate risk.
By Dan Ennis • Sept. 8, 2022 -
Drew Angerer via Getty Images
Bank of America to issue revamped office-return policy in 6-8 weeks
The standards aim to add “formality” to the bank's flexibility, CEO Brian Moynihan said Tuesday at a conference.
By Dan Ennis • Sept. 7, 2022 -
Retrieved from Senate Banking Committee.
OCC to cut smallest banks’ assessment fees by 40%
The move, effective in March 2023 and applying to a bank’s first $200 million in assets, marks the regulator’s fourth fee cut in as many years.
By Gabrielle Saulsbery • Sept. 2, 2022 -
Permission granted by Office of the Comptroller of the Currency
OCC orders Blue Ridge Bank to bolster fintech partnership oversight
The bank must obtain the regulator’s non-objection before signing on with any new fintech partners or adding new products through existing partners.
By Dan Ennis • Sept. 2, 2022 -
Matt Cardy/Getty via Getty Images
Fed ends 2012 AML enforcement action against HSBC
The London-based bank had been under the order since December 2012 after the Justice Department identified “stunning failures of oversight.”
By Anna Hrushka • Sept. 2, 2022 -
Sean Pavone via Getty Images
ColumnEven the anti-Goldman wants more employees in the office
Longtime remote-work advocate Jefferies asked for "everyone back in our offices on a consistent basis" as long as COVID stays "manageable" — but still took a swipe at Goldman in a recent memo.
By Dan Ennis • Sept. 2, 2022 -
Rrraum via Getty Images
Average overdraft fee falls nearly $4, to lowest level since 2009
ATM fees, however, jumped to a three-year high of $4.66 per transaction, according to a Bankrate study, which also found users needed record or near-record-high balances to avoid monthly service charges.
By Gabrielle Saulsbery • Sept. 1, 2022 -
Chris Hondros via Getty Images
Goldman Sachs, Morgan Stanley drop vaccine requirements
In a memo seen as a Labor Day office-return rally cry, Goldman cited new CDC guidance and the reduced risk of severe illness from COVID-19 as reasoning for the change, which doesn’t apply to New York City-based employees.
By Dan Ennis • Aug. 31, 2022 -
Dan Kitwood via Getty Images
Trade groups clap back at Warren’s call to rescind crypto guidance
The crypto winter is "wholly unrelated" to banks’ involvement in OCC-approved activities, the Bank Policy Institute and the American Bankers Association wrote. But further clarity is crucial.
By Gabrielle Saulsbery • Aug. 31, 2022 -
Drew Angerer / Staff via Getty Images
Advocates seize on TD-First Horizon deal in rejection plea
Twelve groups led by the Center for Responsible Lending wrote OCC and Fed officials, urging them to quash the merger on overdraft and market concerns.
By Dan Ennis • Aug. 30, 2022 -
Courtesy of Ford Media Center
Ford ILC application gets pushback from ICBA, consumer groups
In a joint letter to the FDIC, four groups called the car maker’s bid to use the charter to promote the electrification of its vehicle fleet disingenuous, while the ICBA said the ILC charter exploits a regulatory loophole.
By Anna Hrushka • Aug. 30, 2022 -
breeze393/iStock via Getty Images
Green Dot helps Secret Service recover $286M in stolen COVID relief
Scammers gained access to Economic Injury Disaster Loans by creating 15,325 accounts through the digital bank. Green Dot and PayPal helped the Secret Service recover more than $400 million in December.
By Anna Hrushka • Aug. 29, 2022 -
Zhanna Hapanovich via Getty Images
Allegiance, CBTX extend merger timeline, wait for Fed
Merger approvals have lagged over the past two years amid COVID-19 challenges and a shortage of governors at the central bank. The Fed is fully staffed now, but tie-ups still seem slow to close.
By Dan Ennis • Aug. 29, 2022 -
Win McNamee via Getty Images
3 takeaways from Fed Chair Jerome Powell’s Jackson Hole speech
The central bank chief hinted at continued aggressive interest-rate hikes, said "some" economic pain now was preferable to more of it later, and invoked his forebears in a warning about expectations.
By Dan Ennis • Aug. 26, 2022 -
Texas may have singled out BlackRock, paper trail suggests
The lieutenant governor asked for BlackRock to be put on a divestment list before the state began its probe. JPMorgan Chase, Wells Fargo and Goldman Sachs appeared on a previous draft.
By Dan Ennis • Aug. 26, 2022 -
BlackRock, BNP Paribas, UBS, Credit Suisse named to Texas ‘boycott’ list
The state’s comptroller sent inquiries to 150 companies in March and April based on their energy-related policies and recent actions. State pension funds have 30 days to report their holdings with the listed companies.
By Dan Ennis • Aug. 25, 2022 -
Chip Somodevilla via Getty Images
Time runs short for Congress’ leading anti-overdraft advocate
Rep. Carolyn Maloney's defeat in a primary Tuesday leaves lawmakers four months to rally support for a perennial measure to rein in banking fees.
By Dan Ennis • Aug. 24, 2022 -
David McNew via Getty Images
ColumnDive Deposits: BofA, RBC eye ‘balance’ in data- or emotion-based stances
Two banks' messaging, on overdraft and office returns, could hardly be more different. One relies on statistics, another has no specifics. Yet they have one word in common.
By Dan Ennis • Aug. 23, 2022 -
Alex Wong via Getty Images
FDIC orders FTX, 4 other crypto firms to halt ‘false and misleading’ claims
Brett Harrison, FTX’s president, responded on Twitter, saying the company “really didn’t mean to mislead anyone.” The FDIC cited a deleted tweet from Harrison in its letter to the company.
By Anna Hrushka • Aug. 22, 2022 -
Scott Olson via Getty Images
GreenState scraps acquisition of Nebraska bank after judge denies appeal
“We are still coming to Nebraska. This simply pushes our timetable back a year,” the credit union’s CEO said, adding it may expand into Omaha organically.
By Dan Ennis • Aug. 22, 2022 -
Justin Sullivan via Getty Images
Citi fined $14.8M over faulty trade monitoring
The bank had almost no oversight into the second-most serious category of risks on nearly half of trades during an 18-month span, the U.K.’s Financial Conduct Authority said.
By Dan Ennis • Aug. 19, 2022 -
Drew Angerer / Staff via Getty Images
TD faces community advocates’ concerns over First Horizon deal
TD touted its recent efforts to boost nonwhite homeownership and small businesses, as advocates spotlighted the bank's mortgage lending record.
By Dan Ennis • Aug. 19, 2022
Previous
