Bowman sworn in as Fed vice chair for supervision
Michelle Bowman has officially taken the reins as the Federal Reserve’s top regulatory official, giving her the ability to advance policy proposals.
JPMorgan opens fintech accelerator program in UK
The bank says it hopes to help improve the payments ecosystem and meet the needs of underserved customers through supporting U.K.-based fintechs.
Banks want to merge. Here’s why it’s still not happening
Some banks hope to use M&A as a way to play defense, either because they need to shore up their deposits or because they have aging CEOs and are looking for an exit. But investors aren’t wild about the deal math.
Exclusive: Sens. Banks, Cortez Masto to offer FHLB pay bill
A forthcoming bill from Sens. Jim Banks, R-Ind., and Catherine Cortez Masto, D-Nev., would allow the Federal Housing Finance Agency director to set limits on executive pay at the Federal Home Loan Banks.
Ken Moelis plans to step down as CEO of his investment bank
The 66-year-old banker will take on the role of executive chairman at Moelis & Co. Co-President Navid Mahmoodzadegan will become CEO.
OCC denies state supervisors’ request to restrict preemption
Acting Comptroller of the Currency Rodney Hood responded to a letter from the Conference of State Bank Supervisors regarding federal preemption of state banking laws by saying that the agency’s standards comply with law, court precedent and White House policy.
Scotiabank head-office staff to return to office 4 days/week
Bank of Nova Scotia’s plans will start in September, as the Canadian bank cites a push for more collaboration.
FDIC sends draft leverage ratio rule to OIRA for review
The Federal Deposit Insurance Corp. has sent a draft proposal to revise the supplemental leverage ratio to the Office of Information and Regulatory Affairs as a first step toward revising the leverage rule.
Trump rolls back some Biden cyber and fraud directives
A new executive order reverses digital ID initiatives, fraud alerts and federal data-sharing plans from which banks stood to benefit.
Banks should be cautious about celebrating big regulatory rollbacks
Trump’s bank regulatory team is advancing all types of wish-list reforms, some more radical than others. When, not if, the political winds change, banks should be ready for a sharp reversal, what could become a wave of “revenge regulations.”