Progress in the transition away from a now-defunct reference rate is “encouraging,” but “timely action” is still needed by banks before use of the rate is cut off completely by next summer, a Federal Reserve-sponsored […]
Five former bank workers are now prohibited from future banking industry employment for fraudulently obtaining loans and grants administered under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Federal Reserve said Thursday. In […]
Whether some financial institutions and colleges may be steering students to more expensive financial products is among the questions raised about some marketing deals between colleges and financial institutions in a report to Congress made […]
Regulating financial institutions innovations – including stablecoins, payment systems, tokenizing bank liabilities and more – is critical to the safety and soundness of the overall financial system, the Federal Reserve’s top supervisor said Wednesday. Fed […]
Calling crypto an “immature industry based on an immature technology,” the regulator of national banks called Tuesday for “guardrails and gates” within the traditional financial system (TradFi) to ensure safety, soundness, and fairness and encourage […]
An updated summary ratios page for the examination performance results of federally supervised financial institutions will be introduced next week, the umbrella group for the regulators said Thursday. According to the Federal Financial Institutions Examination […]
Strategic and operational planning, operational resiliency (especially with regard to cybersecurity), and third parties and related concentrations are the top three of 13 key areas of “heightened focus” identified by the national bank regulator in […]
Requirements relating to operational risk management, particularly with regard to systemically important financial market utilities (FMUs), under the Federal Reserve’s Regulation HH would be amended under a proposal published Wednesday in the Federal Register. The […]
Debit card issuers should enable at least two payment card networks to process all debit card transactions, including “card-not-present” transactions such as online payments, under a final rule issued late Monday by the Federal Reserve. […]
A penalty of nearly $1 million has been assessed against a New Jersey money transferring firm by the federal consumer financial protection agency for the firm’s failure to provide accurate fee, exchange rate and other […]
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