News Topic: Financial regulations
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Oversight or overreach? NCUA plan to examine vendors sparks dissent
CFPB chief previews next steps in open-banking rulemaking
Do banks and fintechs need to rethink their partnerships?
‘Small banks are disappearing’: FDIC’s Jelena McWilliams
Buy now/pay later firms have an unfair advantage over banks
Regulate buy now/pay later. Now.
CFPB shelves plan to extend debt collection compliance deadline
Battle lines over cryptocurrencies being drawn in Congress
Biden nominates progressive for Treasury financial policy job
Fed proposes rules for funds transfers on faster payments platform
The Fed needs to close backdoor to its payment rails
Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight. ... Read full article
Streamline bank rules for spotting sanctions violators
Detecting business dealings with banned parties means screening a maze of transactions, and Treasury’s Office of Foreign Assets Control supports calls for the industry to take a risk-based approach. But regulators effectively require banks to track ... Read full article
Regardless of who leads it, OCC has inherent conflict of interest
The jockeying over who President Biden should appoint to head the Office of the Comptroller of the Currency has focused attention on how to regulate the fintech sector, but the discussion has glossed over flaws in the agency's funding structure that ... Read full article
Diversify your leadership before regulators do it for you
A voluntary effort to include more members of underepresented groups in the C-suite and on corporate boards would help banks avoid government mandates. ... Read full article
Now more than ever, NCUA needs a reset
The regulator must rediscover bipartisanship and collaboration while ensuring new regulations don't overstep the Federal Credit Union Act. ... Read full article
New NCUA chief faces hard sell on consumer protection
Todd Harper, a Democrat, says he will continue his efforts to increase the agency's consumer advocacy role, despite opposition from the industry and two Republican board members. ... Read full article
White House elevates Todd Harper to NCUA chairman
Harper, a Democrat, had long been expected to be promoted to the chairmanship under a Biden administration, but he could face an uphill climb moving his priorities forward. ... Read full article
Massachusetts is latest state to modernize credit union statues
A bill updating the commonwealth's credit union act, signed into law on Jan. 12, is said to be the most comprehensive update of the state charter in 30 years. ... Read full article
NCUA quietly approves supervisory guidance rule
The agency used a notation vote to advance the final measure, the third time it has used that method in a month. ... Read full article