The move is mainly in response to fintech firms that have long argued that the main route to doing business is by getting a license in each state, which can be a cumbersome and repetitive process.
The plan would harmonize a 2015 rule establishing swap margin requirements with a later policy that imposes restrictions on certain qualified financial contracts.
Despite panicked cries to the contrary on social media and cable news, federal authorities are keeping a careful eye on evolving digital currency markets, as regulators are likely to tell Congress on Tuesday.
Elizabeth Warren takes acting CFPB director Mick Mulvaney to task over his decision on data collecting; B of A gets heat from harrassment reveal and free checking halt; and more.
William J. McDonough, whose decade-long tenure as Federal Reserve Bank of New York president included dealing with the market scare of Long-Term Capital Management and the aftermath of the Sept. 11 terror attacks, has died. He was 83.
Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said his zero-funding request for the agency is not meant to drain it of resources.
Three nominees for financial regulatory posts, including the administration's choice to run the FDIC, will face questions by the Senate Banking Committee.
