If presidential hopeful Sen. Elizabeth Warren (D-Massachusetts) gets into the White House, it is expected that the finance industry – bank mergers in particular – will be put under a microscope, The New York Times reported on Wednesday (Dec. 4). Get the Full Story Complete...
Four federal agencies, in conjunction with state bank regulators, clarified the legal status of hemp-related businesses and the applicable edicts under the Bank Secrecy Act (BSA) for financial institutions (FI) offering services to those businesses, the Office of the Comptroller of the Currency (OCC) said...
The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England (BoE), has fined Citigroup a record-breaking $56.3 million for not completing accurate returns between 2014 and 2018, according to a report by Reuters. Get the Full Story Complete the form to unlock...
The U.S. recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp (FDIC). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Deutsche Bank told U.K. regulators that it still has ongoing problems processing high-value payments despite more than three years of remediation efforts, the Financial Times (FT) reported on Sunday (Nov. 10). Get the Full Story Complete the form to unlock this article and enjoy unlimited...
U.K. legislators are calling for a mandatory 24-hour waiting period on all first-time payments between bank accounts as a way to reduce fraud, Reuters reported on Friday (Nov. 1). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
New York’s federal district court ruled that the U.S. Office of the Comptroller of the Currency (OCC) does not have the power to grant national charters to financial technology (FinTech) companies, The Wall Street Journal reported on Tuesday (Oct. 22). Get the Full Story Complete...
The United States Federal Reserve has passed new rules which lower the liquidity and capital requirements for most banks, as well as easing other restrictions. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Germany’s state-owned savings and cooperative banks are moving forward with discussions that could create a powerful financial association with $286 billion in assets and a staff of 11,000, the Financial Times reported on Wednesday (Oct. 9). Get the Full Story Complete the form to unlock this...
