Small-business formation is booming. So are opportunities for fintechs targeting financial institutions that bank these entities to break into the business verification space. Know-your-business, or KYB, refers to…
Read more Banks, fintechs tackle the complexity of KYB with AI and other techThe Supreme Court’s late June ruling on Loper Bright Enterprises vs. Raimondo reversed a 40-year-old legal doctrine. The new precedent is already being applied to active litigation involving…
Read more Chevron reversal could factor into Custodia appealThe OCC’s new Vital Signs initiative gives bankers an important tool to help them assess the financial health and stability of their customers, and to help them build…
Read more Banks should embrace new tools for measuring consumer financial healthMichael Barr, vice chair for supervision at the Federal Reserve, left, shakes hands with Martin Gruenberg, chair of the Federal Deposit Insurance Corp., following a Senate Banking Committee…
Read more Getting to yes: Reported Basel retooling may — or may not — have legsJPMorgan Chase, Bank of America, Wells Fargo and Citigroup were among the big banks that announced plans to increase their dividends following the Federal Reserve’s annual stress tests.Bloomberg…
Read more After passing stress tests, big banks plan to increase dividendsThe Treasury Department’s Financial Crimes Enforcement Network issued a proposed rule overhauling banks’ anti-money laundering and counterterrorism financing programs, requiring financial institutions to step up their existing AML controls…
Read more Fincen proposes tougher anti-money laundering standards in new ruleThe Federal Reserve Tuesday issued an enforcement action against Evansville, Ind.-based United Fidelity Bank and its parent companies over board management issues. The bank told local news that…
Read more Fed hits fast-growing community bank with enforcement actionGovernment agencies and other organizations are thinking outside of the box — and outside of the country — when acquiring or furnishing talent in data analytics and artificial…
Read more How to hire chief data, AI officers while AI moves ‘at such a fast clip’In a largely anticipated move following weeks of criticism from its director, the Consumer Financial Protection Bureau issued an inquiry to examine the impact mortgage closing costs and…
Read more CFPB launches mortgage closing costs inquiryAnalyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks,…
Read more Home Loan bank dividends are not ‘excessive.’ They’re oddly low.The House of Representatives is teeing up a cryptocurrency bill developed by the House Financial Services and Agriculture Committees that would delineate whether the Securities and Exchange Commission…
Read more GOP tees up crypto vote with hopes of Democratic supportDave Fishwick, founder of Burnley Savings and Loans in the UK and subject of the hit Netflix movie “Bank of Dave,” at an Independent Community Bankers of America…
Read more Dave Fishwick of ‘Bank of Dave,’ has a new nemesis: Payday lendersAn independent report released Tuesday detailed a pervasive culture of sexual harassment and workplace discrimination at the Federal Deposit Insurance Corp. FDIC chair Martin Gruenberg said he will…
Read more FDIC workplace probe outlines pervasive culture of misconductFederal regulators might find reasons beyond antitrust concerns to block the Capital One-Discover merger. Adobe Stock As federal regulators review Capital One’s merger application to buy Discover Financial…
Read more Regulatory pitfalls abound in Capital One’s bid to buy DiscoverThe Federal Reserve Board of Governors has created a new supervisory team specifically to oversee novel activities.Stefani Reynolds/Bloomberg Federal regulators have taken a sharper look at bank partnerships…
Read more Fintech partner banks facing ‘volatile mix’ of supervisory scrutinySenator Tim Scott, R-S.C., who serves as ranking member of the Senate Banking Committee, introduced a Congressional Review Act resolution Monday that would undo the Consumer Financial Protection…
Read more Scott introduces measure to overturn CFPB late fee ruleJoseph Otting, a former Comptroller of the Currency, took over as CEO of New York Community Bank on April 1. The Long Island bank is in recovery mode…
Read more NYCB asks shareholders to finalize $1 billion lifelineRohit Chopra, director of the Consumer Financial Protection Bureau, said in Wednesday remarks that meeting antitrust standards shouldn’t be enough to accept a bank merger application.Ting Shen/Bloomberg WASHINGTON…
Read more CFPB’s Rohit Chopra warns of ‘creep of consolidation’ in bank M&AA Texas Judge dealt a blow to the credit card industry by moving litigation challenging the Consumer Financial Protection Bureau’s $8 credit card late fee rule to the…
Read more Texas judge moves CFPB’s $8 credit card late fee case to DCCapital One’s deal to purchase Discover has drawn opposition from the National Community Reinvestment Coalition, which has more than 700 member organizations.Angus Mordant/Bloomberg Capital One Financial says it’s…
Read more Capital One seeks community plan on Discover deal, even as some activists balk
