If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.
The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank.
The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.
The legislation would help institutions with less than $15 billion of assets avoid regulatory requirements resulting from participating in the small business relief program.
Regulators in the spring temporarily eased a key benchmark of balance-sheet strength to allow institutions to help customers navigate the pandemic, but Federal Reserve Vice Chairman Randal Quarles said it would be “premature” right now to suspend it for good.
Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.
The central bank issued a proposal aligning recent stress testing changes with supervisory standards that are tailored to an institution's size and complexity.
The news media investigation of transactions by nefarious actors puts certain large banks in a negative light, but it also points to inefficient use of suspicious activity reports and other anti-money-laundering issues that the industry has decried for years.
With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.
