Sections
bank regulation
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1.9KInternationalUK 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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4.1KB2B 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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3.1KB2B 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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1.8KBankingFinTechs 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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2.8KSecurity & 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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2.5KNewsFive 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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2.8KB2B 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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4.2KPartnerships / AcquisitionsSynovus Buys FCB 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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3.5KBankingWells 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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3.5KB2B 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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2.7KB2B 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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4.7KBank 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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4.5KBank 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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3.3KSecurity & 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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10.4KBank 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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1.7KCFPBRep. 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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2.5KCashSwedish 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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2.6KBankingOCC 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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4.4KBanking
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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2.6KBank 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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4.0KBank 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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4.2KBank 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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2.8KBank 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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3.6KNewsFive 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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2.9KB2B 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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2.4KBank 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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2.8KBank 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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6.1KBank 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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7.7KCFPBMulvaney 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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3.7KBank 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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5.3KSecurity & 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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4.2KLegalWells 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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2.3KRegulationDodd-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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3.7KBank 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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2.6KLoansOtting 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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2.2KB2B 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...
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3.1KB2B PaymentsCannabis Cos’ Payroll Problems Run Deep
Earlier this year, the federal government spiked anxieties for legal marijuana businesses. Attorney General (AG) Jeff Sessions issued a memo that seems...
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3.9KB2B Payments
EU Banks Losing Profits, Lending Ability Because Of Reforms, Report Says
The Association for Financial Markets (AFME) in Europe wants regulators to curb the development of aggressive bank regulation, according to Reuters reports...
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4.4KB2B PaymentsSingapore Weary Of Forcing Open Banking On FinServ Market
Singapore is ready for open banking, but regulators don’t want to force it on the financial services market, according to reports in...
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2.6KInternationalPunjab National Bank Continues Internal Investigations Into $2B Diamond Heist Scandal
India’s Punjab National Bank (PNB) is conducting an internal investigation into an alleged $2 billion fraud, vowing to come down on anyone...
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7.3KRegulation RoundupDodd-Frank, And Deregulation, Is In The House (Maybe)
In regulatory land, spring has sprung, to borrow a seasonal phrase. Tax season lurches to its end, and thoughts turn to who...
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3.2KCFPBSenate Banking Committee To Repeal CFPB’s Auto Lending Rules
The U.S. Senate Banking Committee is planning to repeal the Consumer Financial Protection Bureau’s (CFPB) indirect auto lending and leveraged lending rules....
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2.1KBank RegulationJPMorgan Gives Donald Trump A Shout Out In Annual Letter
JPMorgan Chase CEO Jamie Dimon praised President Donald Trump in his annual letter to shareholders, saying his administration’s moves have help the...
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4.0KRegulationTreasury Department Asks For Relaxed Penalties For Community Reinvestment Act
The Treasury Department has recommended that U.S. regulators ease up on penalties for banks that fail to adhere to the Community Reinvestment...
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3.0KInternationalIndian PM Modi Criticized Over Photo With Alleged Fraudster
Indian Prime Minister Narendra Modi is in hot water after a photo surfaced of him with billionaire jeweler Nirav Modi, who is...
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2.1KRegulationWarren Proposes To Create Bank Criminal Activity Investigation Unit
Senator Elizabeth Warren wants to create a law enforcement unit to keep big banks in check. According to American Banker, Warren introduced...
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6.7KB2B PaymentsChamber Of Commerce Backs Community Bank Bill
The U.S. Chamber of Commerce is voicing its support for legislation that would ease regulatory burdens for the nation’s community banks in...
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5.7KBank RegulationBancorp Bank Fined $2M For Prepaid Card Fees
The Bancorp Bank, among the largest prepaid card issuers, will pay $2 million to settle claims that it charged fees higher than...
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3.3KCFPBMulvaney Hints At CFPB’s Future In Bank Regulation
The acting director of the Consumer Financial Protection Bureau (CFPB), Mick Mulvaney, could allow other regulators to be in charge of supervisory...
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3.3KRegulationDodd-Frank Looms For Capitol Hill Consideration
Dodd-Frank no more – or no more “no more” Dodd-Frank? Talk of regulatory reform is normal discourse on the Hill. Sometimes change...
