Yellen unsure what Glass-Steagall would look like today
Fed Chair Janet Yellen cast doubt on the administration’s call for a reinstatement of a Depression-era barrier between commercial and investment banking activities. ... Read full article
News Topic: Financial regulations
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Incoming ICBA chair eager for D.C. to walk the talk
Scott Heitkamp is encouraged by a more positive tone coming from President Trump. His goal in the next year is to make regulation easier for his fellow bankers. ... Read full article
Tarp still casts shadow over recovering S.C. bank
HCSB Financial received a second subpoena from the Troubled Asset Relief Program's special inspector general. ... Read full article
How will stress tests change in the Trump era?
The recent decision by the Federal Reserve Board to exempt banks with less than $250 billion in assets from the qualitative aspects of the CCAR stress tests may be a sign of things to come, says Joo-Yung Lee, head of North American financial institutions ... Read full article
The reputational risk of regulatory reform
Under the Trump administration, the challenge for the industry is to find the proper balance between supporting post-financial crisis regulations that have worked well and campaigning for reform efforts that have been ineffective. ... Read full article
Dimon on M&A: ‘There are still too many banks’
Regulators ought to make it easier for smaller institutions to merge, the CEO of the country's largest said Tuesday. ... Read full article
Community bankers aren't holding their breath on reg relief
Attendees at an American Bankers Association conference believe a massive overhaul of banking regulations is unlikely. ... Read full article
Former Tennessee Commerce exec charged with lying to regulators
Lamar Cox is accused of understating losses tied to the sale of foreclosed properties in 2009. ... Read full article
FTC's top consumer protection official resigns
Jessica Rich, who joined the agency in 1991, is stepping down in mid-February, the FTC announced Tuesday. ... Read full article
Ant Financial buying MoneyGram; Will blockchain 'change the world'?
Chinese's largest online payments company to get a footprint in the U.S.; Believers in blockchain bemoan the lack of global cooperation. ... Read full article
Trump issues 'regulatory freeze' in first hours of administration
The Trump administration late Friday called on all executive departments and agencies to freeze regulations to allow agency heads selected by the president to review pending rules. ... Read full article
KleinBank in Minn. girds for fight over redlining claims
The Justice Department claims the bank, which has received “satisfactory” ratings in its last four CRA exams, is failing to serve minority neighborhoods around Minneapolis. ... Read full article
Dems: CFPB's Cordray would sue if forced out
Top Democrats vowed Tuesday to defend the Consumer Financial Protection Bureau, predicting Director Richard Cordray will file a lawsuit if he were fired by Donald Trump after he is sworn in as president. ... Read full article
OCC's new charter — only serious fintechs need apply
The OCC's limited-purpose fintech charter will separate the healthiest fintech companies from the unhealthy ones — leading fintech one step closer to disrupting the incumbents. ... Read full article