Facing persistently low loan yields, increased competition and higher regulatory costs, many community banks are at risk of becoming irrelevant unless they rethink their business models.
The company, which is still recovering from two recent hurricanes, said it will voluntary comply with several key restrictions that were in the 2010 written agreement.
Cynthia Blankenship, an executive at Bank of the West in Grapevine, Texas, has been a regular in Washington for years fighting for regulatory changes. She is encouraging other bankers to do likewise.
Federal Reserve Gov. Jerome Powell said capital levels have been well calibrated but that some changes to the capital rules may be in order to make compliance easier.
After the FSOC voted to rescind its systemic designation for AIG, it's unclear whether the interagency council will continue to appeal a court ruling overturning MetLife's SIFI designation.
Following an antitrust review that lasted almost a year, the approval would appear to cement The Clearing House's status as the front-runner in a race to modernize the U.S. payments system.
The Federal Reserve's nationwide preparedness plan for cash emergencies is being put to a unique test in Puerto Rico. Stocks are being replenished with daily flights, but the lack of power to ATMs and branches is contributing to reports of cash shortages.
