Regulations & Policy: Page 87
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Deep Dive
2020 election: Where the candidates stand on banking
Biden running mate Sen. Kamala Harris introduced a bill to give states the authority to enforce their laws against nationally chartered banks. She also negotiated with banks to compensate homeowners after the 2007-08 crisis.
By Banking Dive staff • Updated April 8, 2020 -
Lawmakers press BB&T, SunTrust execs on merger's impact
Executives defended the proposed $66 billion merger Wednesday, saying the combination will boost the new entity's investment in technology.
By Anna Hrushka • July 25, 2019 -
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As the banking sphere prepares for a second Trump presidency, institutions are weighing branch strategy and regulatory changes — and looking at how past crises have altered their perception of risk.
By Banking Dive staff -
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Fed, FDIC post public parts of big banks' living wills
It's the first submission of the plans since regulators found shortcomings in four of the country's eight global systemically important banks.
By Dan Ennis • July 24, 2019 -
Pot hearing reveals confidence gap in banking a budding industry
Bank and credit union executives showed support for the SAFE Act at Tuesday's Senate hearing, but federally regulated bodies may want more guidance than what FinCEN provides.
By Anna Hrushka • July 24, 2019 -
Senators ask Powell why Fed is mulling own real-time payments system
Large banks have invested more than $1 billion in a network, The Clearing House, launched in 2017. But retailers and small banks have raised concerns about the system's cost and reach.
By Dan Ennis • July 23, 2019 -
ICBA calls for national data privacy standard
Banks that serve two or three states could face hurdles if those states enact different privacy laws, an ICBA executive said.
By Anna Hrushka • July 23, 2019 -
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Senate panel poised to hear pot banking challenges
Tuesday's hearing comes as the bipartisan Secure and Fair Enforcement (SAFE) Banking Act gains momentum in Congress.
By Anna Hrushka • July 22, 2019 -
California's public bank debate pits taxpayer savings against government interference
With a bill scheduled to come before the state Senate, proponents say the idea would save taxpayers money on infrastructure projects, while critics cite unnecessary government overreach.
By By Del Dobbs • July 22, 2019 -
Wells Fargo sued after DACA participant is denied auto loan
An Illinois man alleges a Wells Fargo representative told him he was ineligible for a car loan because his DACA status would expire before the loan would come due.
By Dan Ennis • July 19, 2019 -
PayPal expands Xoom, launches blockchain startup in Europe
PayPal's expansion of Xoom puts it in direct competition with other leading international money remittance services like MoneyGram and TransferWise, all fighting for a slice of the $689 billion global remittance market.
By Anna Hrushka • July 18, 2019 -
FASB's delay of credit-loss standard not enough, banks say
Banks and credit unions want FASB to do more than just delay new CECL accounting standards; they want the standards revisited.
By Robert Freedman • July 17, 2019 -
New bill would increase access to loans for small manufacturers
Reps. Tim Ryan, D-Ohio, and Tom Reed, R-N.Y., introduced the legislation this week saying it will make loans more available for manufacturers and provide incentives for them to grow.
By Matt Leonard • July 17, 2019 -
FDIC gives banks extra year on deposit-tracking rule
The agency also approved a final rule giving banks additional ways to verify the signature of each joint account holder and proposed to relieve some of the public-disclosure requirements related to securitized assets.
By Dan Ennis • July 17, 2019 -
BB&T, SunTrust reveal $60B community benefits plan ahead of merger hearing
News of the banks' Community Benefits Plan comes ahead of a House Financial Services Committee hearing July 24 where lawmakers will examine the proposed merger.
By Anna Hrushka • July 17, 2019 -
Nevada to pilot closed-loop payments system to serve marijuana-related businesses
The proposal would eliminate the large amounts of cash the state's pot businesses must deal with by creating an online system where digital currency transactions could be made.
By Anna Hrushka • July 17, 2019 -
Lawmakers raise money laundering concerns during Libra hearing
Lawmakers both supportive and wary of the launch of Facebook's cryptocurrency were concerned over how the social media giant plans to limit "bad actors" from using the currency.
By Anna Hrushka • July 16, 2019 -
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2 bank openings highlight de novo splurge
Piermont Bank's New York opening marks the second bank opening in a week — a sign of new energy in a banking sector that has seen few de novos this decade.
By Dan Ennis • July 16, 2019 -
Banks face higher reserves for some lot development loans
Banks have to maintain 150% risk-weighted reserve for residential lot development loans under a rule proposed Monday.
By Robert Freedman • July 16, 2019 -
Kendall Davis for CIO Dive
Facebook hearing brings consumer protection, financial stability questions
Lawmakers are set to scrutinize a Facebook executive's testimony over the company's proposed cryptocurrency, a hearing could make waves on Capitol Hill and in the market.
By Dan Ennis • Updated July 15, 2019 -
Low interest rates won't hurt banks, analyst says
Since March, the spread has widened, and now long-term rates are at a healthy place relative to short-term rates.
By Robert Freedman • July 15, 2019 -
Quarles discusses tweaks to Volcker Rule, countercyclical capital buffer
The Federal Reserve plans to revamp the Volcker Rule "early in the fall," Vice Chair Randal Quarles says, adding the Fed is considering changes to the amount big banks hold during boom times.
By Dan Ennis • July 12, 2019 -
Regulators' effort to ease reporting falls short, small banks say
For the country's smallest banks, a mere savings of about 1.8 hours a quarter from about 64 hours just doesn't cut it, a trade group says.
By Robert Freedman • July 12, 2019 -
Analysts: No great need to lower rates, but it won't do any damage either
Even though interest rates and unemployment are already low, there's little concern over lowering rates further, because inflation remains well below the Fed's target of 2%.
By Robert Freedman • July 11, 2019 -
More banks, credit unions to cover pot-related businesses
The product's federal designation as a Schedule 1 drug has limited banking options for cannabis dispensaries and the industries' ancillary businesses.
By Anna Hrushka • July 11, 2019 -
Fed Chairman Powell open to rate cut as 'crosscurrents' reemerge
In testimony today before Congress, the Fed chairman says the U.S. economy is doing reasonably well but he's prepared to take appropriate steps to maintain growth.
By Robert Freedman • July 10, 2019
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