Turns out the appetite for financial deregulation stretches across the Atlantic. U.K. Prime Minister Keir Starmer on Tuesday (March 11) announced plans to abolish the Payment Systems Regulator (PSR). The PSR is roughly equivalent to the Consumer Financial Protection Bureau (CFPB), and the decision is...
Federal Reserve Governor Michelle Bowman is reportedly the front-runner to become the next vice chair for bank supervision. Bowman, who was appointed to her current role by President Donald Trump in 2018, is a top candidate for the bank supervision seat, The Wall Street Journal...
Treasury Secretary Scott Bessent reportedly said Thursday (March 6) that his department will work to see that financial regulators focus on material financial risks. Speaking at The Economic Club of New York, Bessent also addressed media reports that the Trump administration is considering consolidating the...
The Bank of England is weighing an increase to its retail deposits leverage ratio threshold. Such a move, the central bank’s Prudential Regulation Authority (PRA) said Wednesday (March 5), would exempt smaller banks from the rules governing the U.K.’s banking giants. “Guarding against excessive leverage in our banking system...
February 28, 2025
The strongest businesses are forged in the crucible of change. That’s true for FinTech and financial services, where executives are finding themselves striving to keep pace with technological advancements while also facing intensifying demands for transparency and solvency. The convergence of these challenges, navigating the dual pressures of innovation and regulatory scrutiny, is reshaping the […]
February 12, 2025
The fight over the CFPB’s status and, in particular, the future of Open Banking Rule 1033 is on. A Washington, D.C.-based trade group, the Financial Technology Association (FTA), is seeking to...
February 05, 2025
Beware the dangers of regulatory “overreach” and a one-size-fits-all approach to community banking oversight, several industry participants testified at a Capitol Hill hearing Wednesday (Feb. 5). The 119th Congress has...
January 09, 2025
The news this week that the Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body — to help determine how permissioned financial data will be...
March 13, 2025
Federal Reserve Governor Michelle Bowman has reportedly been tapped to serve as the central bank’s vice-chair of supervision. President Donald Trump plans to nominate Bowman to that regulation-focused post, according to unnamed White House officials cited in reports by the Financial Times (FT) and New York Times (NYT) Wednesday (March 12). The news follows reports […]
March 11, 2025
Turns out the appetite for financial deregulation stretches across the Atlantic. U.K. Prime Minister Keir Starmer on Tuesday (March 11) announced plans to abolish the Payment Systems Regulator (PSR). The...
March 11, 2025
Federal Reserve Governor Michelle Bowman is reportedly the front-runner to become the next vice chair for bank supervision. Bowman, who was appointed to her current role by President Donald Trump...
March 06, 2025
Treasury Secretary Scott Bessent reportedly said Thursday (March 6) that his department will work to see that financial regulators focus on material financial risks. Speaking at The Economic Club of...
