The increasing links between financial institutions and Big Tech, particularly in cloud computing, is alarming — and regulators need to sit up, the European Banking Authority (EBA) warned on Tuesday (Sept. 21). Get the Full Story Complete the form to unlock this article and enjoy...
U.S. banking lobby groups want to nix a proposal for bank account reporting that’s part of the congressional reconciliation package. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Sen. Elizabeth Warren said she thinks the Federal Reserve needs to break up Wells Fargo over what she referred to in a letter on Monday (Sept. 13) as repeated instances of misconduct. Get the Full Story Complete the form to unlock this article and enjoy...
They say a chain is only as strong as its weakest link. Extending that logic a bit, it follows that open banking, underpinned by data, is only as reliable as the data itself. To that end, some red flags over data practices have just been raised...
A civil trial began on Monday (Sept. 13) against three former Wells Fargo executives for their alleged roles in the bank’s misconduct scandal, the Office of the Comptroller of the Currency (OCC) announced. Get the Full Story Complete the form to unlock this article and...
Guidance published in collaboration with several federal agencies was recently handed down to offer voluntary counsel for community banks launching partnerships with FinTechs, according to a recent report. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
The Securities and Exchange Commission (SEC) is ramping up its probe into special purpose acquisition companies (SPACs) and is targeting potential conflicts of interest regarding bank fees when the same financial institution (FI) serves as both underwriter and adviser on the same deal, Reuters reported....
Lloyds Bank was hit with a fine totaling £90 million by the U.K. Financial Conduct Authority (FCA), it’s biggest since 2019 and the second largest in the agency’s history, the Financial Times reported on Thursday (July 8). Get the Full Story Complete the form to...
If a severe recession happens, the Federal Reserve‘s new annual stress tests shows large banks could continue lending to both households and businesses, a press release says. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
