The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.
Coronavirus has taken bankers out of their comfort zone. But they should view adaptations they’ve made in confronting the pandemic as a chance to hone their emergency response skills, not a permanent new normal.
The European Union is taking another small step toward setting up a common authority to fight money laundering in the bloc, after a string of revelations over the last two years exposed fundamental flaws of its framework.
Stuart Levey, HSBC’s chief counsel and a former U.S. Treasury undersecretary, will head the cryptocurrency project; lender groups say the demands of those small business loans are not so easy to meet.
The pandemic is taking a toll on tax receipts, leading the central bank to establish a municipal debt facility. Without a turnaround, the consequences for the financial system could be dire.
Financial institutions have been monitoring workers' productivity at home with tracking software and webcams. Now they're mulling whether to mandate contact-tracing apps, COVID-19 testing and other practices that could raise further privacy issues.
The former Treasury Department official would be the first CEO of the digital currency association, which is seeking payment licenses in the U.S. and Europe.
The company, backed by eight major players including JPMorgan Chase and State Street, lets investors vote virtually on corporate matters — a service that has grown more popular during the coronavirus pandemic.
Regional and midsize banks, which continue to trail the biggest banks in digital engagement, could attract younger consumers by reaching out with more advice about financial basics, according to J.D. Power.
