Asset manager BlackRock is reportedly facing a new deadline over its investments in government-backed banks. The company had missed a Jan. 10 deadline issued by the Federal Deposit Insurance Corp. (FDIC) and now has until Feb. 10 to resolve an issue related to the firm’s...
The Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body, allowing it to issue standards that companies can use to help them comply with the CFPB’s regulations. According to a Wednesday (Jan. 8) news release, the CFPB is making...
The Bank of England has reportedly announced plans to relax rules for banks and insurers. Sam Woods, chief executive of the central bank’s Prudential Regulation Authority, told a House of Lords committee Wednesday (Jan. 8) that financial resilience and economic competitiveness “go hand in hand”...
The newest update to the Payment Services Directive, PSD3, has been two years in the making, and final guidelines are expected to come this year. While the changes will be sweeping in Europe, shifting how the directive impacts banks and payment service providers (PSPs), we...
The Federal Deposit Insurance Corporation (FDIC) rated five banks “outstanding” and one bank “needs to improve” in its latest monthly list of banks examined for Community Reinvestment Act (CRA) compliance. The remainder of the 72 banks included in the monthly list released Friday (Jan. 3)...
Moving into the new year, headlines swirled around bank stress tests and rulemaking from the Federal Reserve. And while much attention has been paid to the role of the central bank in the coming years, and the Consumer Financial Protection Bureau’s (CFPB) own rulemaking touching on...
Recent steps taken by the Federal Deposit Insurance Corporation (FDIC) will help ensure that fund managers are not “improperly influencing” decisions made by FDIC-supervised banks, Rohit Chopra, member of the FDIC board of directors and director of the Consumer Financial Protection Bureau (CFPB) said in...
Five banks entered into stipulated orders and written agreements with the Federal Deposit Insurance Corporation (FDIC) in November. These cases were among 13 FDIC enforcement decisions and orders delivered in November and made public Friday (Dec. 27) by the FDIC, according to a Friday press release. Among them...
New York is reportedly tightening its financial scrutiny as Donald Trump returns to office. With the incoming President Trump planning to roll back financial regulations, the Department of Financial Services will place more scrutiny on banks, insurers and cryptocurrency companies doing business in New York,...
