Sections
bank regulation
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2.6KB2B PaymentsAktis Platform Boosts Banks’ Corporate Governance Transparency
Data intelligence firm Aktis is rolling out a cloud-based platform for banks to benchmark and analyze their market positions compared to industry...
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8.9KB2B PaymentsA Look Inside Switzerland’s Plans To Bank Crypto Businesses
The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to...
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3.7KB2B PaymentsUK To Allow More SMBs To File Bank Complaints
The U.K. government is broadening the ability of small businesses (SMBs) to lodge complaints against their banks, according to Financial Times reports...
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7.7KBank RegulationFederal Agencies Weigh In On Sharing Bank Secrecy Act Resources
Five federal agencies spoke on Wednesday (Oct. 3) on how community banks and credit unions can share resources to boost anti-money laundering (AML) efforts,...
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4.7KB2B PaymentsFed Backs Community Bank Regulatory Overhauls
The U.S. Federal Reserve caught the attention of the financial services market this week with Fed Governor Lael Brainard’s speech Wednesday (Oct....
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2.9KSecurity & FraudTesco Bank Fined £16.4M For 2016 Cyberattack
Tesco Bank agreed on Monday (Oct. 1) to pay £16.4m in a settlement with the Financial Conduct Authority (FCA) due to a cyberattack...
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3.3KRegulationCredit Suisse Censured By FINMA For Lax Anti-Money Laundering Processes
Credit Suisse has been censured by FINMA, the Swiss financial supervisor, for weak anti-money laundering processes, reported Financial Times. According to the...
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2.6KRegulationWells’ Plan To Compensate Auto Insurance Holders Rejected
Wells Fargo has seen U.S. regulators turn down its plan to pay back customers who purchased auto insurance they didn’t need. Reuters,...
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2.8KFraud PreventionHelping Banks Find Fraudsters-In-Waiting
Banking during the pre-digital days involved transport. One had to visit a branch — and remember, there is a reason people still...
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4.4KB2B PaymentsNew Bank TNB USA Sues The Fed
A new bank, launched by one of the Federal Reserve’s own, is now suing the Fed of New York, accusing the regulator...
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3.9KSecurity & FraudDOJ Probes Wells’ Wholesale Banking Ops
Add another investigation to the roster of headlines swirling around Wells Fargo. As The Wall Street Journal reported on Thursday (Sept. 6),...
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3.3KB2B PaymentsDeutsche Bank Doubles Down On Growth Plans
Although Deutsche Bank says it knows it cannot return to the market domination it enjoyed before the 2008 financial crisis, according to...
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3.1KB2B PaymentsSmall Firms Target RBS Execs In New Investigation
The fallout over the Royal Bank of Scotland’s mistreatment of some small business customers continues, with a new investigation launching after the...
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3.4KB2B PaymentsChina Fiscal Policy At Odds With SMB Lending
China is struggling to bridge its small businesses to financing for growth, with broader fiscal policy at odds with the initiative, according...
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2.1KInternationalUK Bank Acct Services At Risk Post-Brexit
Britons residing in the European Union (EU) may no longer have access to bank account services and businesses in the EU if...
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4.6KB2B PaymentsBanks, FinTech Firms Ready To Compete For RBS Funds
Royal Bank of Scotland (RBS), which has been ordered to dole out more than $1 billion to industry competitors, is ready to receive...
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3.4KB2B PaymentsAussie Regs Accuse NAB Of Decade-Long Fee Scheme
Australian regulators have made public a report into National Australia Bank (NAB), accusing the FI of charging consumer and small business customers...
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2.1KBankingFinTechs Wary Of US Bank Charter Plan
Despite having the chance to apply for banking licenses with the Office of the Comptroller of the Currency, many online lenders are...
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3.0KSecurity & FraudIran Central Bank Deputy Chief Arrested In Fraud Crackdown
The deputy chief of Iran’s central bank was dismissed from the position and arrested as part of the government’s crackdown on financial...
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2.7KNewsFive at Five: Ride Hailing Service Grab Set For New $1B Investment
Welcome to the Five at Five, your late look at the payments and commerce news of the day. Stories include Southeast Asia...
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3.1KB2B PaymentsWatchdog Says Its Hands Are Tied; Takes No Action Against RBS
The Royal Bank of Scotland (RBS) will not face enforcement action by the U.K. Financial Conduct Authority (FCA), according to Reuters reports...
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4.7KPartnerships / AcquisitionsSynovus Buys FCB Bank Financial In All-Stock Deal Valued At $2.9B
Synovus Financial announced on Tuesday (July 24) that it is acquiring FCB Financial Holdings, owner of Florida Community Bank (FCB), Florida’s largest...
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4.0KBanking
Wells Fargo Refunding Customers For Add-On Products
Wells Fargo, the embattled national bank, is reportedly refunding tens of millions of dollars for a range of products, including pet insurance...
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4.0KB2B PaymentsFunding Circle Fund Reduces US Exposure
An investment vehicle operated by U.K. alternative finance platform Funding Circle is reportedly turning away from U.S. exposure and doubling down on...
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3.0KB2B PaymentsBanks, Shadow Lenders Risk ‘Race To The Bottom’ In Corporate Bond Market
Analysts are warning that rising competition among large lenders and shadow banks to issue junk bonds may cause a “race to the...
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5.5KBank RegulationPSD2 Smiles On Biometrics — And Other Tales From The New World
Watching. Waiting. Concerns about fraud. And an apparent boost for biometrics. The second Payment Services Directive — known as PSD2 — has come...
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4.7KBank RegulationBad Loans Slow Banks In FinTech Race
FinTech startups and big tech may provide competition for established banks that have bad loans on the books, The European Banking Authority...
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3.8KSecurity & FraudAs GDPR Entrenches, Some Regulators Seek Exemptions
Just a few weeks in, the data privacy law that has just taken root in the European Union already has some regulators...
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12.4KBank RegulationRegTech: From Compliance Checkbox To Competitive Cornerstone
Bank of America is being sued for $120 million after failing to flag large deposits into small accounts, which were cleared a...
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1.9KCFPBRep. Darrell Issa May Head Up CFPB
Sources are saying that Representative Darrell Issa, the Republican lawmaker from California, might be the next leader of the Consumer Financial Protection...
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2.8KCashSwedish Lawmakers Want To Force Banks To Stick With Cash
Swedish lawmakers are trying to slow down the nation’s move toward going entirely cashless by forcing the country’s largest banks to offer...
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2.9KBankingOCC Does A 180: Fake Accounts Not A Common Problem
Wells Fargo was fined $185 million in 2016 for opening millions of potentially fake accounts, prompting the Office of the Comptroller of...
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4.7KBanking
OCC Report Uncovers Problems With Sales Practices At Banks
After reviewing sales practices at more than 40 large and mid-sized banks, the Office of the Comptroller of the Currency (OCC) found...
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2.8KBank RegulationMeridian Trade Bank Fined For Breaching AML Laws
Meridian Trade Bank, which serves residents in Latvia and Lithuania as well as some non-European clients, has been fined for breaching anti-money...
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4.5KBank RegulationWhose Customer Is It When Banks And FinTechs Collaborate?
FinTech and banks have long been painted as natural enemies vying for control of the future of consumer finances – but that...
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4.8KBank RegulationBanks Stepping Up Loans To Corporate Customers Worries Regulators
Banks, faced with low business growth and fierce competition in the industry, are offering business loans with sweeter terms, which is worrying...
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3.0KBank RegulationThe Opportunities And Challenges Of Small-Dollar Lending
Responsible short-term, small-dollar loans to consumers will result in increased purchasing power, according to a paper from the American Banking Association about...
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4.2KNewsFive At Five: McDonald’s, Uber Eats Team Up For Breakfast
Welcome to Five at Five, your late look at the payments and commerce news you might have missed. Today’s stories focus on...
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3.1KB2B PaymentsFinding Another FinTech Angle To Tackle The Trade Finance Gap
With a market gap as wide as $1.5 trillion, it’s no wonder the trade finance industry has landed the attention of FinTechs...
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2.6KBank RegulationUK Banks Need To Invest In Cutting-Edge Tech To Fight Cybercrime
In order to prevent cybersecurity attacks, U.K. banks are going to have to take chances investing in new technologies at a time when...
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2.9KBank RegulationCongress Passes Bill To Ease Regs On Small Banks
A bill that would give regional banks a break on regulation won approval in the U.S. House of Representatives on Tuesday (May...
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6.7KBank RegulationWells Fargo Accused Of Manipulating Business Banking Data
It’s happened again. Wells Fargo on Thursday (May 17) was facing accusations that its employees altered customer data, this time in a...
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8.0KCFPBMulvaney Seeks To Change The Qualified Mortgage Rule
Consumer Financial Protection Bureau (CFPB) acting director Mick Mulvaney is looking to change the Qualified Mortgage (QM) rule. “Our duty is to...
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4.2KBank RegulationCDD Rule Becomes Official
The deadline cometh. Today (May 11) is the day the final rule, served up by the Financial Crimes Enforcement Network (FinCEN), takes effect. The...
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5.6KSecurity & FraudThose Without Data History May Be Doomed To Repeat It
Facebook’s data fiasco, Wells Fargo’s fake account scandal, the Equifax breach and the onset of the European Union’s General Data Protection Regulation...
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4.7KLegalWells Fargo Settles Sales Scandal Lawsuit; To Pay $480M
Wells Fargo announced late last week that it has agreed to pay $480 million to settle a securities fraud class-action suit. In a press...
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2.5KRegulationDodd-Frank Co-Author Believes The Bill Will Survive
Despite Republican plans to scale back on Dodd-Frank, its co-author is optimistic the legislation will survive. “It’s much better than where I...
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4.0KBank RegulationWells Fargo Handling Of Retirement Assets Under Scrutiny
The Department of Labor is examining if Wells Fargo pushed retirement-planning customers into pricier accounts and toward buying more expensive investment funds,...
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2.8KLoansOtting Loosens Rules On Short-Term Small-Dollar Loans
Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to...
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2.4KB2B PaymentsCorrespondent Banking’s Decline Disproportionately Impacts Islamic Banking
A new report by the General Council for Islamic Banks and Financial Institutions (CIBAFI) said the decline of correspondent banking relationships disproportionately...
