News Topic: Prudential

The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem. ... Read full article

Aura is one of the few fintechs in the nation to have a Community Development Financial Institution designation from the U.S. Department of the Treasury. ... Read full article

The revisions would emphasize activities-based regulation over labeling individual firms as systemically risky. ... Read full article

Banks ask Congress for help with a rule that forces them to estimate loan losses; The network will allow banks to "exchange and verify trade information." ... Read full article

The administration says it wants to focus on risky activities as opposed to individual nonbank firms. But there are big questions with that. ... Read full article

The Financial Stability Oversight Council announced Wednesday that it was rescinding the SIFI label for Prudential, a culmination of almost a decade of fierce debate about how regulators should address the risk of nonbank financial firms. ... Read full article

The interagency council voted in favor of the bank's application to remove its designation, though the practical effect of the decision is muted by the regulatory relief law passed this spring. ... Read full article

The conversation about financial policy in Washington has moved past designations of giant firms. ... Read full article

The Financial Stability Oversight Council will hold an executive session next week to consider whether Zions Bancorp. should still be considered a systemically important financial institution. ... Read full article

The insurance company has made no effort to shrink or simplify since being designated as systemically important, and regulators should not remove heightened federal oversight until it does. ... Read full article

The Trump administration's Financial Stability Oversight Council is likely to remove the systemically important financial institution label for the remaining nonbanks on the list, but it might consider adding other firms such as Fannie Mae and Freddie ... Read full article

After the FSOC voted to rescind its systemic designation for AIG, it's unclear whether the interagency council will continue to appeal a court ruling overturning MetLife's SIFI designation. ... Read full article

The Financial Stability Oversight Council said Friday that AIG, whose collapse threatened to bring down the U.S. financial system during the financial crisis, should no longer be subject to enhanced standards. ... Read full article

Prudential Financial is laying the groundwork to escape the government's label that it's too big to fail, a move that would dramatically reduce federal oversight of the largest U.S. life insurer. ... Read full article

A group of 10 Republican senators are calling on Treasury Secretary Steven Mnuchin to drop the government’s appeal of a ruling last year that rejected insurance giant MetLife’s designation as a systemically risky firm and to de-designate the remaining two ... Read full article