Wednesday’s (March 5) actions in Congress against two Consumer Financial Protection Bureau (CFPB) rules — one governing digital payments providers, the other focused on bank overdraft fees — open up a new front against the embattled agency. But the joint resolutions of disapproval, part of...
The Federal Deposit Insurance Corp. (FDIC), like other regulatory agencies, is rapidly being reshaped. The very structure of the agency may be drastically altered. A continuing rollback of rules and enforcement actions will have repercussions for banks and FinTechs alike. The ultimate impacts of the...
There have been pockets of momentum to curb interest rates charged for balances credit cards and for loans extended by FinTechs. But the impact may be one where lending is actually curtailed, particularly as a few states have sought to winnow down rates lenders can...
There’s a rule of thumb in law that states that hard cases make bad law. The sentiment can be reworked a bit to extend to regulations, where bad policy translates into bad rule-making. Much remains in flux when it comes to regulatory agencies — their...
March 10, 2025
Blockchain and banking have, since the former’s inception, operated almost entirely at odds. Cryptocurrencies, after all, were invented as a decentralized method to store value, designed to operate outside of the intermediaries and custodial third parties that make up the traditional, regulated financial system. The original bitcoin whitepaper’s very first sentence talks about the goal […]
January 31, 2025
The shakeup on Capitol Hill — still ongoing, as the Trump administration settles in for its second round, as the new Congress has been seated — will extend to financial...
January 20, 2025
The new administration is here, ushering in a phase of uncertainty surrounding banking regulations and the state of the regulatory agencies themselves. Beyond the usual avenues of rule-making and enforcement...
January 17, 2025
With the Digital Operational Resilience Act (DORA) now in effect, organizations must pivot from preparation to active compliance and ongoing risk management, That’s according to Carl Leonard, EMEA cybersecurity strategist...
February 28, 2025
The European Commission reportedly wants to seek comments from banks on its plan to implement the Fundamental Review of the Trading Book (FRTB), which determines how banks estimate potential losses and, therefore, capital requirements. The review would further delay the implementation of new rules that supervise their trading activities, Seeking Alpha reported Friday (Feb. 28). The plan […]
February 25, 2025
Another big bank CEO says that claims about politically motivated “debanking” are unfounded. In a speech before the Economic Club of Washington, D.C., Bank of America CEO Brian Moynihan said that it is over-regulation...
February 17, 2025
The regulatory framework should not prevent banks from providing innovative and competitive products and services, Federal Reserve Gov. Michelle W. Bowman said Monday (Feb. 17). Speaking at the American Bankers Association’s Conference for...
February 17, 2025
Global payment service provider EBANX secured In-Principle Approval (IPA) for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license supports cross-border money transfers and merchant acquisition services in...
