Banks to see capital increase by 16% under Basel III endgame proposal
The FDIC proposed raising capital requirements for banks with $100 billion or more in total assets gradually over the next five years. Republican appointees on the board opposed the rule as excessive and impetuous.
FDIC Board of Directors Meeting
BOARD MATERIALS | JULY 27, 2023 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met in open session to discuss an interagency proposed rule on Regulatory Capital Rule: Amendments Applicable to Banking Organizations Subject to Category I, II, III or IV Standards, and to Banking Organizations with Significant Trading […]
Earned wage access: Early payday or payday loan?
Fintechs created earned wage access so cash-strapped employees could get an advance on their next paycheck to cover urgent expenses. Some say repeat usage of fee-based EWA resembles a payday loan, sparking debate over whether regulators should call EWA a loan.
The promise of AI for banks is huge, but concerns abound
Artificial intelligence and machine learning are already revolutionizing some elements of the business, but a human ability to “read between the lines” will always be needed.
Durbin-Marshall swipe fee bill could get a vote this Congress
The credit card swipe fee bill won’t be in the defense spending package now, but the bill’s Republican co-sponsor believes that it will receive a vote soon.
‘Precisely the right moment’: Live Oak launches business checking account
The Wilmington, North Carolina-based small-business lender is prepping a wider rollout of the business checking account it introduced in the first quarter. Chairman and CEO Chip Mahan said the move will allow the company to “nip at [its competitors’] edges as their customers feel less appreciated.”
Powell: Banks are working to avoid ‘clunky’ discount window experience
Following the difficulties of Silicon Valley Bank and Signature Bank this spring, banks are approaching the emergency lending facility more proactively, the Federal Reserve chair said.
BOK says its benefiting from strong core markets, pullback by rivals
The regional bank said metropolitan economies across its central and western U.S. footprint are resilient, and new loan opportunities are abundant. Trepidation among competitors, too, is creating openings for the Oklahoma bank, its CEO said in an interview.
X.com and banking: Third time’s a charm? Or three strikes and Elon’s out?
Elon Musk’s original X.com was an internet bank that became part of PayPal. Musk wants to bring X back to its banking roots, but the market may have moved on.
Treasury official: Brokered deposits ‘may warrant greater attention’
Treasury Department Assistant Secretary for Financial Institutions Graham Steele also spoke favorably of capital changes set to be proposed by banking agencies on Thursday.