All bank articles

  • Blog post

    Federal Reserve launches new compliance bulletin


    The Federal Reserve Board has launched a new publication intended to provide bankers with high-level summaries of pertinent supervisory issues.

  • Blog post

    FSR: Congress must enact data breach legislation


    The Financial Services Roundtable is urging  Congress to enact stronger data security legislation and ensure sensitive financial information is kept safe.

  • Blog post

    OCC chides Senate critics, defends supervisory reforms


    The Comptroller of the Currency is fighting back against accusations by Senate Democrats, that his agency was slow to adapt  to lessons learned from last year’s problematic behavior at Wells Fargo.

  • Blog post

    Wells Fargo CEO retires amid cross-selling scandal


    Wells Fargo CEO John Stumpf called it quits on Thursday, retiring amid revelations that at least 2.5 million unauthorized accounts and credit cards were opened on behalf of unsuspecting customers. The hasty departure, however, says Joe Mont, may not satisfy his most vocal critics.

  • Blog post

    Federal Reserve releases bank stress test results


    Some good news from the Federal Reserve this week: U.S. banks seem to have enough cash on hand to weather a variety of unexpected economic calamities and downturns. “The nation's largest bank holding companies continue to build their capital levels and improve their credit quality, strengthening their ability to lend ...

  • BlockChain

    Is blockchain technology FinTech’s magic bullet?


    Image: Bitcoin is dead; long live blockchain. To be fair, bitcoin, the much-hyped virtual currency, is hardly ready to fade into oblivion. The technology underlying those online exchanges, however, is poised to become the hottest technology to hit the financial world in years, albeit not without significant business and regulatory ...

  • Blog post

    OCC's Focus on Credit Risk Includes Auto Loan Concerns


    A side effect of the economic recovery is that credit risk is now "moving to the forefront," says Comptroller of the Currency Thomas Curry. As banks reach for loan growth with less creditworthy borrowers, the resulting risk is prompting increased regulatory scrutiny of auto, home equity, and commercial real ...

  • Blog post

    Big Banks Agree to Preserve Records on Symphony Chat Program


    New York State has reached agreements with Goldman Sachs, Deutsche Bank, Credit Suisse, and Bank of New York Mellon regarding recordkeeping requirements for the Symphony chat and messaging platform, a service aimed at banks. The agreements require Symphony to retain all communications sent to or from the banks through its ...

  • Blog post

    Appellate Court Allows Constitutional Challenge to CFPB


    A small Texas bank scored a potentially big victory last week when a federal appeals court ruled that it has standing to challenge the constitutionality of the Consumer Financial Protection Bureau. The decision, overturning a 2013 district court ruling, rejected a similar challenge to the Financial Stability Oversight Council and ...

  • Blog post

    EU to Postpone Capital Rules on EU Banks


    The European Union is again planning to postpone new capital rules on EU banks to hold more capital when trading derivatives with unapproved foreign exchanges. In response to the financial crisis, the United States formulated its own trading guidelines without giving European regulators sufficient opportunity to weigh in, experts say. ...

  • Blog post

    U.K. Watchdog to Hold Senior Managers Accountable


    British banking regulators have released new guidelines to improve individual accountability in the banking sector. In the event of misconduct, senior managers who are capable of “causing significant harm” to a bank, or can threaten the integrity of financial markets, will now be held accountable in an investigation. Details inside.