The Office of the Comptroller of the Currency (OCC) plans to continue its regulatory reforms in 2026. The regulator’s agenda includes reforms to liquidity risk management, Bank Secrecy Act/anti-money laundering (BSA/AML) compliance and community bank regulation, Comptroller of the Currency Jonathan V. Gould said in...
Disney has reportedly sent a cease-and-desist letter to Google, alleging copyright infringement by the tech company via its artificial intelligence tools. In the letter, Disney alleges that Google has used the entertainment company’s content to train its AI models and distributed copies of its work...
European Union finance ministers will reportedly press for simplification of the bloc’s financial services laws when the ministers meet on Friday (Dec. 12). The finance ministers will call for the European Commission to review, simplify and in some cases repeal financial services laws, the Financial...
The Treasury Department reportedly aims to give its Financial Crimes Enforcement Network (FinCEN) the ability to veto other regulators’ findings that a bank has violated the Bank Secrecy Act (BSA). With this proposed change, Treasury wants to ensure that regulators focus on key parts of...
Google is facing an antitrust investigation in Europe tied to its artificial intelligence (AI) tools. The European Commission (EC) announced Tuesday (Dec. 9) that it is looking into whether Google had hindered competition by imposing unfair conditions on content creators, and by giving its own AI model an edge over...
It’s been almost a year since the White House began cutbacks at the Consumer Financial Protection Bureau (CFPB). Now, workers at the CFPB remain in a holding pattern, The Wall Street Journal (WSJ) reported Sunday (Dec. 7). The widespread layoffs planned by President Donald Trump’s...
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) withdrew two interagency leveraged lending guidance issuances, saying the guidance was “overly restrictive.” The regulators rescinded the “Interagency Guidance on Leveraged Lending,” dated March 21, 2013, and the “Frequently...
The European Commission fined social platform X 120 million euros (about $140 million), saying it breached the Digital Services Act’s transparency rules, according to a Friday (Dec. 5) press release. X must also inform the commission of measures the company plans to take to address...
Germany’s financial regulator is reportedly warning banks of risks from unclear ties between artificial intelligence companies. “We’re currently observing the development of both vertical and horizontal connections which are hard to see into from the outside,” Nikolas Speer, the head of banking supervision at BaFin, said at...