Merchants was accused by the Treasury Department's Financial Crimes Enforcement Network of failing to properly monitor money services businesses that had ownership ties with bank insiders.
Lost in the battle between banks and retailers — which is being fought with renewed vigor in the early days of the Trump administration — is any consideration of how caps on interchange fees have affected consumer spending patterns.
It’s unclear whether connecting lenders and borrowers over the internet offers any advantages over traditional lending, according to panelists at the Structured Finance Industry Group conference in Vegas.
The Structured Finance Industry Group and Chamber of Digital Commerce will explore ways distributed ledger technology might speed transaction processing and improve transparency.
In an exclusive American Banker poll, bankers see President Trump as a positive force for the financial services industry and are optimistic his administration can deliver on CFPB reform and simpler capital rules.
With mortgage rates and housing prices both expected to go up this spring, lenders are facing a decision on how they will adjust to the decline in refinancings and overall lending volumes.
