All Banks articles – Page 2
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Blog
FDIC greets new chairman
Jelena McWilliams was sworn in this week as the new chairman of the Federal Deposit Insurance Corporation. She succeeds Martin Gruenberg.
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Article
Volcker rule rehash drives renewed backlash from Dem regulators
Proponents of a new multi-agency proposal to amend the Volcker rule tout its compliance-relieving benefits for small- and medium-sized banks. Critics, who had a chance to vote this week, fear that the plan “euthanizes” it.
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Blog
OCC highlights key risks for the federal banking system
The Office of the Comptroller of the Currency has released the latest edition of its Semiannual Risk Perspective. Key themes include: credit, operational, compliance, and interest rate risks for the federal banking system.
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Article
Fed pitches a new effort to streamline Volcker rule
On the heels of new legislation targeting reach of the Volcker rule to small- and medium-sized financial institutions, the Fed has announced its own plan for streamlining the Dodd-Frank Act’s regulatory centerpiece.
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Blog
Report: Wells Fargo employees may have altered customer documents
The latest catalyst for bad news at Wells Fargo: allegations that employees altered information on business customers’ forms and documents.
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Blog
FinCEN’s due diligence rule now in effect
FinCEN has issued a reminder to financial institutions and their customers that its new customer due diligence requirements took effect on May 11. The agency also clarified its exemptive relief for certain insurance arrangements.
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Blog
Thomas Hoenig departs FDIC
April 30 was the last day of service for Thomas Hoenig as vice chairman and a member of the board of directors of the Federal Deposit Insurance Corporation. Hoenig joined the board in April 2012 and served a full six-year term.
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Blog
Treasury wants to ‘modernize’ Community Reinvestment Act
The Treasury Department has announced recommendations for updating the Community Reinvestment Act. The stated goal “is to better align CRA activity with the needs of the communities that banks serve.”
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Blog
Outgoing FDIC official shares blunt view of ‘Too Big to Fail’ and bank regulation
As part of his farewell tour, Thomas Hoenig, the departing vice chairman of the Federal Deposit Insurance Corporation, used a recent speech to candidly address the challenge of balancing prudential standards and regulatory initiatives when attempting to end big bank bailouts.
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Blog
A deep dive into the Senate bill that chips away at the Dodd-Frank Act
On March 15, the Senate, under the leadership of Banking Committee Chairman Mike Crapo, passed what he is calling “the most significant piece of regulatory reform legislation for community financial institutions in nearly a decade” with a bipartisan vote of 67 to 31.
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Blog
Clearing House Association, Financial Services Roundtable combine forces
The Financial Services Roundtable and The Clearing House have announced plans to merge their non-partisan advocacy and research arms.
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Blog
Big banks want nationwide breach standards
the Financial Services Roundtable, a trade group for the nation’s largest banks, is calling upon Congress to “enact a strong set of national data security standards” in efforts to better protect consumers and sensitive financial information.
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Article
Financial firms collaborate to defend against cyber-threats
Several financial institutions are voluntarily banding together to strengthen their cyber-security defenses and provide additional protections for consumer account information.
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Article
FDIC recordkeeping rule poses a big bank data challenge
To get a better grip on resolution planning, the FDIC wants banks to do a better job keeping track of deposit data.
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Blog
Pawlenty to step down from bank consortium
Financial Services Roundtable CEO Tim Pawlenty will bid adieu to the advocacy group and lobbyist for big banks in the United States by March. Reports have him considering a campaign for his old job: Governor of Minnesota.
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Article
Adapting the regulatory landscape for FinTech remains a challenge
As FinTech services proliferate, state and federal regulators are considering how to create a simpler set of rules, but progress has been slow.
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Blog
Quarles gives overview of Fed’s regulatory strategy
Marking his three-month anniversary as the Board of Governors for the Federal Reserve’s vice chairman for supervision, Randal Quarles discussed plans for improving the effectiveness of post-crisis financial regulation.
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Blog
OCC: even in rip-roaring economy, bank risks persist
The Office of the Comptroller of the Currency has released a new report highlighting the credit, operational, and compliance risks that persist as key concerns for the federal banking system.
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Blog
Trump, once again, voices support for bank deregulation
Speaking at the White House this week, President Trump once again trumpeted the need for even more bank deregulation, especially rules that may impede lending.
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Blog
AGs argue for easing bank restrictions on marijuana businesses
A bipartisan coalition of state attorneys is petitioning Congress to ease federal restrictions on banks that serve legal marijuana businesses, “bringing grey market activities into the regulated banking sector.”