The New York City Banking Commission has voted to limit new municipal deposits in the city’s accounts at Capital One and KeyBank. The three members of the commission voted to do so after the banks “failed to submit required plans demonstrating their efforts to root out discrimination,” New York...
A Federal Reserve governor said changes to banking regulations should be “targeted,” not broad and fundamental. Speaking Friday (May 19) at the Texas Bankers Association Annual Convention in San Antonio, Federal Reserve Governor Michelle Bowman said that as changes are made, decision-makers should be mindful...
A top House Republican says White House “mismanagement” helped trigger the recent banking crisis. Rep. Patrick McHenry (R-N.C.) chairs the House Financial Services Committee, which on Wednesday (May 17) convened hearings to question the ex-CEOs of three regional banks that failed in recent weeks. In...
Although TD Bank has capital on hand to make acquisitions, it reportedly won’t be able to make them in the United States. A Barclays analyst said the regulatory challenges the bank faced when trying to buy First Horizon Bank will keep it from making acquisitions of other retail banks for...
The Federal Reserve Board aims to make changes after the recent banking crisis. The failure of Silicon Valley Bank showed a need to strengthen supervision and regulation, Federal Reserve Board Vice Chair for Supervision Michael S. Barr said in testimony that was posted on the Fed’s website Monday (May 15) and...
The head of France’s central bank says European lenders have benefited from tough love. In a speech in Paris on Tuesday (May 9), Bank of France Governor Francois Villeroy de Galhau said Europe’s banks undergo stricter scrutiny from regulators than their American counterparts and have...
Regulators’ concerns about TD Bank’s anti-money laundering (AML) practices reportedly ended its plans to acquire First Horizon Bank. The concerns of the Office of the Comptroller of the Currency (OCC) and the Federal Reserve centered on TD Bank’s handling of unusual transactions and its timeliness...
The recent collapses of tech-friendly banks, including Silicon Valley Bank (SVB), Signature Bank, Silvergate Bank and First Republic Bank, have rightly caused a global conversation about the future of banking, and even more so, of financial services. PYMNTS recently posed these questions to Gilles Gade,...
The Federal Reserve aims to strengthen its supervision and regulation after the failure of Silicon Valley Bank. So said Federal Reserve Vice Chair for Supervision Michael S. Barr Friday (April 28) when releasing the Fed’s review of its supervision of the bank. “Following Silicon Valley...
