Proposed eleventh-hour change to CECL has bankers scrambling

11/09/18

The Financial Accounting Standards Board is considering a plan to have banks break out charge-offs and recoveries on a year-by-year basis. Bankers fear new systems would be needed to comply.

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Fintechs to law enforcement: Let’s be partners, not adversaries

11/09/18

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

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Fed to delay new big-bank capital measure until 2020: Quarles

11/09/18

The central bank's top regulator said public comments about the new tool, used to gauge capital strength during stress tests, will likely result in changes before it is adopted.

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Firm advising GSE investors updates plan to end conservatorships

11/09/18

The revised blueprint by Moelis & Co. LLC incorporates a pending regulatory capital plan for the mortgage giants.

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A cautionary tale on brokered deposits

11/09/18

As the FDIC considers reforms to its brokered deposit rules, the agency should recall the problems these funds caused in the lead up to the S&L crisis, argues former Chairman William Isaac.

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Blankfein met accused 1MBD fraudster; UBS hit on two fronts

11/09/18

The former Goldman CEO is said to be the unnamed executive at a meeting with Asian financier; the bank faces multibillion-dollar penalties in two countries.

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'Not a good omen for the industry': Comments of the week

11/08/18

Readers sound off on the 2018 midterm election results, OCC's Otting defending his agency's right to charter fintechs, and predictions the plastic credit card is nearly dead.

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UBS sued by U.S. for fraud tied to mortgage-backed securities

11/08/18

UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.

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OCC’s lax oversight compounded costs of thrift failure, IG says

11/08/18

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

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McHenry to run for top GOP spot on House banking panel

11/08/18

There was speculation the North Carolina congressman wanted a higher Republican leadership role, but on Thursday he expressed interest in the ranking member position.

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