Financial regulations

The Fed needs to close backdoor to its payment rails

03/03/21

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.

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Streamline bank rules for spotting sanctions violators

02/26/21

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 everything, which is unproductive.

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Regardless of who leads it, OCC has inherent conflict of interest

02/10/21

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 have persisted across administrations.

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Diversify your leadership before regulators do it for you

02/03/21

A voluntary effort to include more members of underepresented groups in the C-suite and on corporate boards would help banks avoid government mandates.

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Now more than ever, NCUA needs a reset

01/28/21

The regulator must rediscover bipartisanship and collaboration while ensuring new regulations don't overstep the Federal Credit Union Act.

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New NCUA chief faces hard sell on consumer protection

01/26/21

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.

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White House elevates Todd Harper to NCUA chairman

01/25/21

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.

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Massachusetts is latest state to modernize credit union statues

01/21/21

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.

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NCUA quietly approves supervisory guidance rule

01/20/21

The agency used a notation vote to advance the final measure, the third time it has used that method in a month.

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