News Topic: Financial regulations

The agency said federal thrifts must abide by the same rules as national banks pertaining to membership in payment systems and codified policies on acceptable derivatives practices among a slew of technical changes. ... Read full article

In an open letter, industry veteran Thomas Vartanian outlines the steps the administration can take to encourage innovation, better detect cyber threats and modernize regulation. ... Read full article

The former chairman butted heads with colleagues over the agency’s budget this week, and the Senate is expected to vote to confirm a successor early next month. ... Read full article

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances. ... Read full article

Jobs will be harder to find for graduates, and there are new underwriting platforms that can better predict students' future income in their chosen field. ... Read full article

The forthcoming measure could override staff opinions that helped certain deposit-gathering companies partner with banks. ... Read full article

Thomas Pinder held jobs at the Justice Department and FDIC before coming to the American Bankers Association in 2012. ... Read full article

Myra Toeppe, who had been serving as acting director since January, will take on that role permanently. ... Read full article

The agency’s final rule modernizing the Fair Debt Collection Practice Act limits calls to seven per week, but collectors won stronger protections from liability claims and other key changes to the original proposal. ... Read full article

The New York State Department of Financial Services says banks and credit unions under its supervision should limit loan concentrations in vulnerable geographic areas, avoid overexposure to fossil fuel and other legacy businesses and develop financial ... Read full article

The rule, which will go up for a 60-day comment period, codifies existing NCUA policies and is not expected to change how the agency operates. ... Read full article

The industry called for modifications to the regulator's phase-in proposal on the new credit loss standard while acknowledging the broader changes it wants are up to the Financial Accounting Standards Board. ... Read full article

A 2019 decision by Amy Coney Barrett, then a 7th Circuit judge, cited an earlier Supreme Court ruling suggesting a high bar for plaintiffs to claim harm. But other jurists have favored a less onerous standard. ... Read full article

Ludwig, an ex-banking regulator and CEO of Promontory Financial Group, describes how economic conditions for middle- and low-income Americans have declined and advocates a living wage, investment in infrastructure, smart regulation and other solutions. ... Read full article

The agency's May rule modernizing the Community Reinvestment Act had deferred action on establishing numeric metrics for meeting the law's requirements, but acting Comptroller of the Currency Brian Brooks said banks will soon get more clarity in ... Read full article

A recently introduced bill concerning the Paycheck Protection Program loans could hint at what lawmakers will focus on when the House and Senate reconvene next month. ... Read full article

The credit union regulator will meet for a second time this month when the board holds an open meeting on Wednesday. ... Read full article

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say. ... Read full article