Compliance

Bipartisan scolding of FASB chief raises lender hopes of softer CECL

01/16/20

Lenders grew more optimistic that Congress will undo or narrow the loan-loss accounting standard after members of a House subcommittee assailed Russell Golden for approving the rule without studying its impact on credit availability.

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‘Extraordinarily inefficient’: Scharf’s blunt assessment of Wells Fargo

01/14/20

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.

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GOP lawmaker's bill would repeal small-business loan rules

01/10/20

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington.

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Banking 2025, more Wells Fargo woe, compliance turnover: Top stories of the week

01/10/20

Potential sources of industry upheaval, and how to adapt; former Wells Fargo execs may face criminal charges in coming weeks; why banks have such high turnover of chief compliance officers; and more from this week's most-read stories.

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Former Wells Fargo execs may face criminal charges in coming weeks

01/03/20

Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-account scandal and could be indicted as soon as this month.

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Changing of the guard a frequent occurrence in bank compliance

01/03/20

Banks had the highest turnover of chief compliance officers among the 100 largest financial services firms in the world, according to a recent study. Recruiters say that’s a function of changing job demands, high pressure and poaching by fintechs — plus old-fashioned demographics.

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California denies license to point-of-sale lender

12/30/19

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase.

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FDIC issues warnings on leveraged lending, CRE concentration

12/23/19

The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period.

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There’s a ‘true lender’ fight brewing in California

12/20/19

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter.

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Banks cite regulations among reasons for repo spike: Survey

12/19/19

Many large lenders pointed regulatory restrictions on their balance sheets and reduced risk appetite to explain why they stood on the sidelines during the September spike in overnight funding rates, according to a Federal Reserve survey of senior credit officers.

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