Financial regulators have yet to publish a comprehensive set of artificial intelligence (AI)-related rules, as most of the efforts have focused so far on guidelines and principles for financial institutions to make good use of AI. However, senior banking regulator officials warned on Friday (June...
Sen. Sherrod Brown, the chairman of the Senate Banking Committee, said in a letter to Wells Fargo CEO Charles Scharf that the bank has failed to repair its government and risk management problems. Get the Full Story Complete the form to unlock this article and...
Michael Hsu, Acting Comptroller of the Office of the Comptroller of the Currency (OCC), told an audience at a crypto event on Tuesday, May 24 that the recent events with TerraUSD and other stablecoins are clear evidence that the crypto economy is dependent on hype. ...
The Federal Reserve Board on Thursday (May 19) finalized a rule that governs funds transfer over the Federal Reserve Bank’s FedNow services. The final rule is substantially similar to a proposal from last year, but some of the clarifications provided by the Fed will allow...
The European Banking Authority (EBA) has warned that the largely unharmonized regulatory regimes across Europe regarding non-bank lending may create challenges for stakeholders, including regulators, and it recommended changes that may affect lending solutions like buy now pay later (BNPL) and peer-to-peer (P2P) platforms. Get...
Speaking at an event Monday (May 9), Acting Comptroller of the Currency Michael Hsu discussed the need to rethink bank merger assessment and directed his team to work with the Department of Justice (DOJ) and other banking regulators to review the merger frameworks. Get the...
U.S. regulators are set to rework the way banks lend money to lower-income communities. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...
The European Union (EU) will be moving ahead with its digital euro investigation, including exercises on how people will interact and pay with the digital coin if it is adopted. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The European Banking Authority (EBA) said in its response to the European Commission’s Call for Advice that banks don’t need cryptocurrency protections — yet, according to a Friday (April 29) press release from the European policymaker. Get the Full Story Complete the form to unlock this article...
