Expanding exemptions for initial margin requirements on swaps transactions “would harm financial stability and U.S. taxpayers,” said the top Democrats on the House and Senate banking panels. ... Read full article
Jelena McWilliams said federal bank regulators have made progress in developing a proposal but acknowledged that the reform process has been slow. ... Read full article
Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products. ... Read full article
Among other things, the letter asked the regulators to ease requirements for a new community bank leverage ratio and analyze the impact of the pending CECL accounting change. ... Read full article
The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank. ... Read full article
The bank regulators extended a moratorium for the proprietary trading ban for certain affiliates of foreign banks by an additional two years. ... Read full article
The federal banking regulators issued a new proposal Friday asking for further public comment on changing the definition of a “high volatility commercial real estate exposure.” ... Read full article
Many oppose a metric-based approach, but there are ways it could actually work. ... Read full article
The central bank has a long history of fighting reforms to the Community Reinvestment Act, until now. ... Read full article
Bank regulators finalized a proposal to exclude small institutions from the proprietary trading ban, as required by last year’s reg relief bill. ... Read full article
The industry is urging federal regulators to go further in streamlining oversight of foreign banks and resolution-planning requirements. Critics warn that the proposals could weaken post-crisis safeguards. ... Read full article
Loans to other financial firms have soared in recent years, and many are going to private equity or business development firms that then use the funds to make leveraged loans. Should regulators be worried? ... Read full article
The new rule, subject to approval by the Office of Management and Budget, would enable FDIC-supervised institutions with less than $5 billion in assets to use a shorter form every other quarter. ... Read full article
A recent high court decision said judges no longer have to automatically give agencies the benefit of the doubt when interpreting their regulations. ... Read full article
Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations. ... Read full article
The ban, which came to light Monday, will remain in effect until either the final disposition of Stephen Calk’s court case or until it is terminated by Comptroller Joseph Otting. ... Read full article
The FDIC's new complex institution supervision and resolution division will be operational July 21. ... Read full article
After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better. ... Read full article
Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity. ... Read full article
Intern programs are just one example of an activity that should count for CRA credit and meet Dodd-Frank requirements, says Comptroller of the Currency Joseph Otting. ... Read full article
