The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act.
The industry had welcomed the Consumer Financial Protection Bureau plan allowing debt collectors to use electronic communication, but some worry about the effect of a court decision concerning email correspondence.
As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry.
The central bank will consider rules to create a tiered structure for supervising banks with over $100 billion of assets and to ease resolution plan requirements.
The factors that drive small banks to accept acquisition offers and the impact those decisions have on their communities must be better understood, according to the Fed’s Michelle Bowman and the FDIC’s Jelena McWilliams.
The Fed’s injects funds into the repo market for first time in more than a decade; bank trying to partner firms with cash with those with market share.
