Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.
British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.
New York’s banking regulator ordered Habib Bank Ltd. to pay $225 million and surrender its license to operate in the state, effectively removing Pakistan’s largest lender from the U.S. financial system.
While some policymakers are open to accommodating fintech companies with looser oversight compared to banks, the New York State superintendent is unapologetic about her tough approach.
Wells Fargo’s chief marketing officer Jamie Moldafsky shared how social media is helping the bank recover from its account-opening crisis; Maria Vullo explains her tough stance on bank crime, despite maintaining a lower profile than her predecessor.