Regulation and compliance
Regulation and compliance
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Executives at the Canadian bank, which recently took a major provision for potential fines, say they're working to shore up anti-money laundering controls. At the same time, they're preparing employees and investors for an expensive slog as they work to satisfy U.S. officials.
May 16 -
UMB Financial, Fulton Financial and Provident Financial Services have recently announced capital raises in connection with M&A deals. "They're setting a precedent," one consultant said.
May 16 -
The Senate Thursday joined the House in passing a resolution to overturn the SEC's SAB 121 accounting guidance for financial firms holding crypto in custody. President Biden has vowed to veto the measure.
May 16 -
In a statement to Sen. Tim Scott, R-S.C., the ranking member of the Senate Banking Committee, a number of anonymous Federal Deposit Insurance Corp. employees allegedly expressed doubts that FDIC Chairman Martin Gruenberg could lead the agency through necessary changes to fix workplace issues.
May 16 -
The Supreme Court issued an opinion Thursday morning that was unequivocal in its view that Congress is constitutionally empowered to fund agencies with open-ended and indirect funding mechanisms, overruling a 5th Circuit opinion from 2022 that found that executive branches must be subject to direct Congressional appropriations.
May 16 -
Companies such as Synctera, Treasury Prime and Unit are diversifying their services or enabling more direct contracts between banks and fintechs to survive in an evolving regulatory environment.
May 15 -
Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.
May 15 -
The bill, which would allow uninsured trust companies to issue stablecoins, represents a perilous departure from historically sound financial regulatory policies, and would open the door to potentially catastrophic market disruptions.
May 15 -
The real-life British banker behind the hit Netflix movie 'Bank of Dave' talked with American Banker about the sequel due out next year and why opening more local community banks is so important.
May 14 -
Community Financial Development Institutions' mission-driven lending has traditionally been a small segment of the lending market. That's beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.
May 14