“De-risking” – or the action of banks dropping accounts from “money services business” (MSBs) and other funds-transfer or remittances groups – is blocking or eliminating financial services to “entire classes of legally operating businesses,” a […]
Legislation on title fee calculations in mortgage lending, and clarifying that bank and credit union loan rates remain valid whether sold or reassigned to a third party, was adopted by the House Wednesday in two […]
A national data security standard and strong notification requirements when a data breach occurs were two top recommendations of most of the financial institution and data security experts testifying before a House subcommittee Wednesday. However, […]
Hearings on the regulatory regime affecting data security and how notifications of breaches are reported, and an examination of “de-risking” and its impact on access to financial services, are scheduled in the House next week, […]
Regulations clarifying the role of financial technology entities – or “fintechs” – in making loans and taking deposits are needed, but the types of regulations will depend on the types of “fintechs” they affect, witnesses […]
Need for sustained attention to cybersecurity risks were emphasized by the Trump administration’s top financial regulator in testimony before a Senate committee Tuesday on key aspects of a report outlining potential risks to the financial […]
The current regulatory environment for “financial technology” (or “fintech”) and whether to modifications are needed to allow financial services providers to use fintech for delivery of new products and services will be considered during a […]
Despite uncertainty over a government shutdown, a confirmation hearing remains scheduled Tuesday for Jelena McWilliams and Marvin Goodfriend, nominees for (respectively) the chairman of the Federal Deposit Insurance Corp. (FDIC) Board and member of the […]
Modernizing the Bank Secrecy Act (BSA) and anti-money laundering (AML) regime has “clear bipartisan interest,” the chairman of the Senate Banking Committee said Wednesday in opening a hearing, where he called for coordination and information […]
At least 17 “regulatory relief” items – including several provisions based on similar items contained in the already-House approved H.R. 10, the Financial CHOICE Act – will be marked up by the Financial Services Committee […]
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