All Banks articles
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ArticleWhy OCC ‘Fair Access’ proposed rule is a win-lose
How can true cooperation be achieved when the solution being proposed is essentially to pit high-risk, controversial banking customers against the banks with which they want to do business, wonders Jaclyn Jaeger.
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ArticleBasel Committee seeks comment on principles for operational resilience
The Basel Committee on Banking Supervision is seeking comment from the financial services industry on its proposed principles for operational resilience that aim to enhance banks’ ability to withstand, adapt to, and recover from potentially severe adverse events.
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BlogLegislators question bank merger, Fed’s approval process
SunTrust Banks and BB&T Corp. recently announced merger plans. The deal is drawing the scrutiny of Congressional Democrats, less for the details of the merger than the regulatory atmosphere that encouraged it and the forthcoming approval process.
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Fed moves to make stress tests less stressful
The Federal Reserve Board on Tuesday finalized changes to its stress testing program for the nation’s largest and most complex banks. The intent is to make the resiliency assessments “more open, transparent, and effective.”
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BlogWarren: Comerica left retirees, veterans vulnerable to fraud
Sen. Elizabeth Warren (D-Mass.) is urging government officials to respond and react to allegations that Social Security beneficiaries were the victims of fraud through their use of a government program administered by Comerica Bank.
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Brokers, banks launch new equities exchange
A group of nine leading retail broker-dealers, banks, and financial services firms have agreed to launch a new equities exchange, MEMX, or Members Exchange.
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ArticleBank culture improved since recession, but challenges remain
A new report says despite ongoing efforts to improve conduct and culture deficiencies, the nation’s banks still face serious brand and reputation challenges.
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OCC discounts fees it charges banks for supervision
The OCC will reduce assessments on the banks it oversees for 2019. The change—which takes effect with the March 31, 2019, assessment—will reduce its General Assessment Fee Schedule by 10 percent.
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A top concern for banks: How will regulators tackle AI?
The cutting-edge question asked by Federal Reserve Governor Lael Brainard at a recent conference: “What are we learning about artificial intelligence in financial services?” She answered with a look at the regulatory landscape.
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Banking groups petition for clarity on regulatory guidance
Two influential groups representing the interests of banks are petitioning the Consumer Financial Protection Bureau for formal rulemaking regarding the use of supervisory guidance.
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State bank regulators sue OCC over FinTech charters
The Conference of State Bank Supervisors is suing to prevent the OCC from granting special national bank charters to non-banks, specifically FinTech firms.
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Bank regulators respond to Hurricane Michael
Federal banking regulators have issued an alert for financial institutions affected by Hurricane Michael. The alert covers the storm’s effects on loan modifications, regulatory reporting, and compliance with the Community Reinvestment Act.
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Sanders’ bill would break up big banks
Sen. Bernie Sanders (I-Vt.) has introduced legislation that would “break up the nation’s biggest banks and risky financial institutions in order to safeguard the economy.” Rep. Brad Sherman (D-Calif.) will file a companion bill in the House.
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BlogA thumbs up for smaller banks sharing BSA AML resources
Federal bank regulators have announced that certain community banks and credit unions may share resources in an effort to bolster Bank Secrecy Act compliance and anti-money laundering obligations.
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SEC petitions for ‘guidance’ restrictions, enhanced bank disclosures to break out overdraft fees
A recent public rulemaking petition asks the SEC to prohibit guidance that becomes binding and enforceable. A separate petition seeks more detailed revenue breakdowns in banks’ 10-K filings.
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RBS faces $4.9B settlement over mortgage-backed securities
The Justice Department announced a $4.9 billion settlement with The Royal Bank of Scotland Group, resolving federal accusations that it misled investors in the regarding residential mortgage-backed securities.
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Legislation seeks crackdown on bank overdraft fees
The recently filed Stop Overdraft Profiteering Act of 2018 would ban overdraft fees on debit card transactions and ATM withdrawals and limit fees placed for checks and recurring payments.
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CFPB amends Gramm-Leach-Bliley Act's privacy notice requirement
The CFPB will amend the Gramm-Leach-Bliley Act to allow banks that meet certain requirements to be exempt from sending annual privacy notices to their customers.
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Wells Fargo settles with SEC over improper sales advice, strategy
An SEC announcement says Wells Fargo Advisors will settle charges that its sales team pushed retail investors to cash out non-liquid investments before their maturity, unnecessarily costing them money but improving the firm’s profits.
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ArticleBig changes may be on the horizon for CRA and Bank Secrecy Act compliance
Testifying in both chambers of Congress last week, Comptroller of the Currency Joseph Otting discussed plans to modernize the Community Reinvestment Act, and streamline requirements under the Bank Secrecy Act.