The path to creating a bank — from submitting a business plan to hitting the ground running — is a long and winding road, with tough regulations in the form of high capital requirements and mountains of paperwork, banking executives told lawmakers Wednesday (May 14)....
Rep. Andy Barr, R-Ky., said Tuesday (April 29) that he supports bills that will tailor federal bank regulation to financial institutions’ risk profiles and maintain Congress’ authority over the federal banking regulatory agencies. Get the Full Story Complete the form to unlock this article and enjoy...
The European Central Bank (ECB) has reportedly created a task force to simplify Europe’s banking rules. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...
Four Democratic senators are reportedly demanding the Federal Reserve release records related to last year’s collapse of the FinTech company Synapse. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
The Federal Deposit Insurance Corp. (FDIC) reportedly plans to make a further staff reduction, eliminating another 750 positions in addition to the 500 it cut through voluntary reductions in February. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The Federal Deposit Insurance Corp. (FDIC) and the Federal Reserve Board fined Discover Financial Services and two subsidiaries, Discover Bank and DFS Services LLC, alleging that they misclassified consumer credit cards as commercial, thereby requiring merchants to pay higher interchange fees. Get the Full Story Complete the form to unlock...
The Treasury Department is reportedly taking the lead in the Trump Administration’s efforts to streamline oversight and ease regulation in the banking sector. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
The Office of the Comptroller of the Currency (OCC) said Wednesday (April 16) that it will combine some of its supervision activities; blend its risk identification, analysis and policy efforts; and elevate its Information Technology and Security (ITS) function. Get the Full Story Complete the...
A Bloomberg report released late Monday (April 14) says that JPMorgan Chase and Bank of New York Mellon have scaled back electronic information sharing with the Office of the Comptroller of the Currency (OCC) following a significant breach of the regulator’s email system. Get the...
