Healey Pulls Red Tape Off Regulatory Codes
Massachusetts banks are just some of the firms benefiting from the Healey administration’s new cuts to business regulations announced Wednesday.
A Regulatory Navigator with an Inside Perspective
After over four years as an executive at the Federal Reserve Bank of Boston, Daniel Hartman has joined the private sector at law firm Nutter, where he’s helping local banks make sense of the Fed’s regulatory moves.
Top Fed Bank Regulator Barr, Under Fire from GOP, to Resign
The Federal Reserve’s top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate.
Overdraft Fee Rule Finalized, But Future Uncertain
President Joe Biden had called the fees, which can be as high as $35, “exploitative,” while the banking industry has lobbied extensively to keep the existing fee structures in place.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
Big Banks Will Need to Hold More Capital Under New Fed Proposal
The nation’s biggest and most complex banks will need to hold additional capital on their balance sheets under an initial proposal by the Federal Reserve and FDIC.
Regulators Allow for Short-Term Troubled CRE Loan Mods
A top real estate industry trade group got to take a victory lap last week as federal banking regulators announced some rule changes around how banks will be required to deal with a wave of office loans that are maturing just as future demand for office space looks shaky.
Letter to the Editor: Community Banks Distinct from Silicon Valley Speculators
Given our cautious approach, Washington lawmakers should ensure that regulations resulting from the Silicon Valley Bank and Signature Bank closures do not harm community banks like ours.
Biden Calls to Revive Bank Regulations Trump Weakened
Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress.
FDIC Seeks Comments on Bank Mergers
The Federal Deposit Insurance Corp. has moved forward with plans to review bank merger policies, the next step in a move that led to controversy for the FDIC board late last year.
Regulators Heighten Focus on Climate Change’s Financial Risks
The primary objective of financial regulatory authorities generally is to maintain the safety and soundness of banks and the financial system. How, then, do regulators incorporate climate change risks into their work?
Banking Regulators Propose Unified Approach to Use of Third-Party Vendors
The Fed the FDIC and the OCC recently released proposed guidance to help banking organizations manage risks associated with third-party relationships, including relationships with fintechs.
Powell Defends Fed’s Consideration of Climate Change Risk
Federal Reserve Chair Jerome Powell on Wednesday defended the Fed’s increasing scrutiny of the threat that climate change could pose to the health of the nation’s banks
CFPB Ends Policies that Provided Flexibility for Lenders
The Consumer Financial Protection Bureau on Wednesday rescinded seven policies that had been issued in 2020 to provide financial institutions with temporary flexibilities during the pandemic.
Fed Creates Committee to Look at Climate Risks to Finance
With climate change projected to affect both the U.S. and global economies, the Federal Reserve Board will establish a new committee to look at the impact climate change could have on the broader financial system.
OCC Letter Sheds Light on Cryptocurrency Risk and Reward
The belief that consumers and investors would feel most comfortable having traditional financial institutions store, manage and process digital assets has caused those institutions to begin exploring and implementing cryptocurrency into their suite of product offerings.
Does the Fed Contribute to Inequality?
Analyst and author Karen Petrou questions the unintended consequences of the Federal Reserve’s monetary and regulatory policies on the American economy, financial system and workers.
Banks Must Worry About More than Physical Climate Risks
The accelerating pace of progress in fighting climate change will likely mean increased scrutiny and supervision, from both investors and regulators, of the banking sector – which our findings show is far more exposed to climate risk than banks are disclosing.
Biden Administration Brings New Slate of Financial Regulators
President Joseph R. Biden’s inauguration will usher in a new slate of financial regulators in 2021 with nominate cabinet and financial regulatory agency picks that will likely emphasize a more vigorous investor and consumer protection regulatory posture and tougher enforcement.
2020: The Year Fintechs Gained Bank Charters
This past year brought significant developments in the realm of fintech corporate structure and regulatory oversight. An increasing number of fintechs either acquired existing banks or applied for de novo bank charters in 2020, taking different tacks to do so.
