The Treasury Department is reportedly taking the lead in the Trump Administration’s efforts to streamline oversight and ease regulation in the banking sector. Treasury Secretary Scott Bessent has been holding private meetings with bank agencies over the past month, Bloomberg reported Thursday (April 17). Bessent has met with Federal Reserve Governor Michelle Bowman, Federal...
Economic uncertainty is casting a long shadow over the year ahead. Bank leaders are framing 2025 as a year of “wait and see” marked by resilience, optionality and gradual acceleration. That was the story for Wells Fargo’s Q1 earnings call Friday (April 11), where CEO...
A deep dive into Federal Deposit Insurance Corp.’s (FDIC) Office of Inspector General’s latest audit and report on the agency reveals key risks to banks: They face threats from cyberattacks and from vulnerabilities in third-party relationships. As the number of problem banks remains elevated, the...
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...
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...
April 18, 2025
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. The FDIC said Wednesday (April 16) that it ordered Discover Bank to pay $1.225 billion in restitution and a […]
April 17, 2025
The Treasury Department is reportedly taking the lead in the Trump Administration’s efforts to streamline oversight and ease regulation in the banking sector. Treasury Secretary Scott Bessent has been holding private meetings with bank...
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...
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...
