The Federal Reserve plans to review “matters requiring attention” (MRAs) issued to banks by its examiners and downgrade some to “non-binding supervisory observation,” Reuters reported Wednesday (Feb. 11), citing a Fed internal memo seen by Reuters. The review of the MRAs will be guided by...
The European Union needs “a deep regulatory housecleaning — at all levels,” European Commission President Ursula von der Leyen said Tuesday (Feb. 10). Speaking at a European Parliament plenary debate on reviving EU competitiveness, von der Leyen said the European Union must continue to slash bureaucratic...
An Illinois ban on card interchange fees for taxes and tips has survived a court challenge. The U.S. District Court for the Northern District of Illinois Eastern Division on Tuesday (Feb. 10) sided against a group of financial services organizations which had sued state Attorney General...
Autodesk sued Google on Friday (Feb. 6), alleging that the tech giant infringed on its “Flow” trademark for artificial intelligence-powered software, Reuters reported Monday (Feb. 9). The plaintiff said in its complaint that it began using the name “Flow” for software using to make movies,...
European competition regulators say Meta’s artificial intelligence (AI) assistant policy violates antitrust regulations. The European Commission (EC) announced Monday (Feb. 9) that it sent a statement of objections to the tech giant, stating the watchdog’s “preliminary view” that Meta breached EU antitrust rules by preventing third-party AI assistants from...
A consumer advocacy group said that potential changes to the Consumer Financial Protection Bureau’s complaint system could make it harder for people to file complaints about credit reporting companies, debt collectors, banks and other businesses. The National Consumer Law Center said in a Friday (Jan....
The House Financial Services Committee convened Wednesday (Feb. 4) for a marathon session on financial sector stability lasting roughly five hours, characterized by sharp ideological divides and procedural maneuvering. And while the hearing was ostensibly organized to review the Financial Stability Oversight Council’s (FSOC) latest...
The Nevada Gaming Control Board filed a civil enforcement action Monday (Feb. 2), seeking to stop Coinbase from offering certain event contracts in the state. The board said in a Tuesday (Feb. 3) press release that it considers the offering of sports event contracts and...
Community banks still trade on proximity and relationships, but their appeal now hinges just as much on whether they can deliver modern digital services. PYMNTS Intelligence data shows that 32% of lower-revenue small and mid-sized businesses favor community banks and credit unions, citing personalized service...