News Topic: Federal Reserve

Few lawmakers have stated positions on fintech applications for industrial loan company charters. It may not stay that way. ... Read full article

Parents of IBs are exempt from bank holding company supervision by the central bank, but that is a strength, not a weakness. ... Read full article

Serving on multiple boards while holding full-time executive positions weakens a director’s ability to fulfill the governance demands at complex institutions. ... Read full article

The nominations of Randal Quarles as Federal Reserve Board vice chairman and Joseph Otting as comptroller of the currency will now head to the full Senate. ... Read full article

Company is third fintech firm in the past few months to seek its own bank charter; vice chair’s departure gives Trump four vacancies to fill on the Federal Reserve Board. ... Read full article

The Fed announced Vice Chairman Stanley Fischer will depart in October, giving Trump the ability to rapidly reshape the central bank and target Dodd-Frank Act rules. ... Read full article

The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks. ... Read full article

Federal Reserve Board Vice Chair Stanley Fischer said he will resign from the Board of Governors on or about Oct. 13. ... Read full article

A Federal Reserve proposal acknowledges that good board governance results from directors being credible overseers of strategy instead of a redundant form of management. ... Read full article

The rule limiting the largest U.S. banks’ ability to enter into contracts with early termination clauses is intended to forestall a liquidity crunch if the bank is under stress. ... Read full article

The Federal Reserve’s plan to stop a bank bailout before it starts hasn’t been taken up more than five years since it was proposed. ... Read full article

The Fed's order noted that Sterling had clarified errors in its CRA data before receiving a "satisfactory" rating from the OCC. ... Read full article

Federal Reserve Gov. Jerome Powell defended a proposal aimed at streamlining information presented to bank boards of directors. ... Read full article

Following short-term disruptions from Harvey, Texas bankers expect a long-term lift to the local economy; Buffett’s company officially becomes the bank’s largest shareholder. ... Read full article

The purpose of the stress tests program is to reassure the public that the banking system is safe, but the stress tests are not an independent assessment of financial institutions’ actual strength. ... Read full article

Fed chair says post-crisis financial reforms have strengthened the banking system and the economy; consumers again comfortable borrowing against their home equity. ... Read full article

Federal Reserve Chair Janet Yellen defended post-crisis reforms but allowed that further adjustments may be necessary to reduce adverse effects on small businesses and subprime borrowers. ... Read full article

The Boston company — a division of the Spanish banking giant Banco Santander — announced that the Federal Reserve has terminated a 2014 written agreement barring it from declaring dividends without central bank approval. ... Read full article