News Topic: SEC

The effort to delay CECL comes a week after a House panel mounted a bipartisan attack on the new FASB standard. ... Read full article

The Trump administration directed independent agencies to submit their pending regulations for review by the Office of Information and Regulatory Affairs, a novel procedural hurdle that could slow down policy changes. ... Read full article

With an implementation deadline less than a year away, bankers will be pressed to detail how a new accounting rule for loan losses will affect reserves, earnings and capital. ... Read full article

Clayton is the latest to raise concerns about bank loans to highly indebted companies; Wells Fargo’s performance took a hit with its reputation. ... Read full article

Four lawmakers are calling on the White House to act quickly to appoint members to Democratic slots on the Federal Deposit Insurance Corp.'s board and on the Securities and Exchange Commission. ... Read full article

If there is renewed interest in a proposal to restrict incentive-based plans, that isn’t enough to overcome obstacles that have hindered the rulemaking for so long. ... Read full article

The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more. ... Read full article

The SEC and FASB control the process now, but Congress should give banking regulators a more central role in overseeing the creation of accounting rules. ... Read full article

More traditional players interested in creating a safer market for digital assets have issued a checklist that cryptocurrency firms can follow to build confidence among banks, consumers and regulators. ... Read full article

Prometheum may succeed whether others have failed because it has attempted to work closely with regulators. ... Read full article

Robinhood Financial has rebranded its service, deleted tweets about its launch and scrubbed the page from its website. ... Read full article

The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say. ... Read full article

Bankers say the agencies’ proposed rewrite of the trading ban would do more harm than good, while the Volcker Rule’s most ardent supporters worry the overhaul will enable risky behavior by the largest institutions. ... Read full article

Despite being barred from the securities industry by the SEC, LendingClub’s founder has found plenty of people to back his latest venture — and that’s a problem. ... Read full article

A former Ocwen Financial executive is settling Securities and Exchange Commission charges that he engaged in insider trading related to his company's dealings with Altisource Portfolio Solutions following a CFPB enforcement action and its upcoming ... Read full article

Renaud Laplanche agreed to pay $200,000 and accept a ban from the securities industry to settle a long-running SEC probe. A LendingClub subsidiary and the firm's former CFO, Carrie Dolan, were also fined. ... Read full article

Initial coin offerings have become controversial enough for the SEC to weigh in. And even though the commission has not announced a clear stance, technology investors are noticing a difference in its actions. ... Read full article

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration. ... Read full article