Senate Dems press White House to fill vacancies on FDIC, NCUA
Banking Committee Democrats warned that the Trump administration’s failure to nominate Democrats to vacancies at the Federal Deposit Insurance Corp., Securities and Exchange Commission and National Credit Union Administration threatens the bipartisan structure Congress established for financial regulators.
Q&A: Why the ICBA is taking a more aggressive stance on crypto
Independent Community Bankers of America is launching a new campaign comparing community banks with crypto companies, and highlights potential harm that the latter could pose to Main Street.
New capital proposals set the banking industry on a dangerous course
Plans to allow U.S. banks to reduce the capital they hold create uncomfortable echoes of past turmoil in credit markets. As regulators contemplate relaxing standards meant to protect the public, they should look to past financial crises.
Prediction markets may not be worth the risk
How much of the FOMO is manufactured?
Why some California-licensed banks may seek federal charters
Rising assessment fees and the fear of punitive actions under newly installed state regulator Rohit Chopra may push some California-chartered banks to switch to a federal overseer, some industry observers say.
Trump picks Brian Johnson, former CFPB No. 2, to lead bureau
The White House has nominated Brian Johnson, the former CFPB deputy and a veteran Capitol Hill staffer, to permanently lead the bureau.
Orrstown’s new CEO says bank is in a position of strength
Adam Metz has spent the past decade in senior management roles at Pennsylvania-based Orrstown. For the past year, Metz, served as chief operating officer and the designated successor to departed CEO Thomas Quinn.
CFTC proposes rules to evaluate prediction market risks
The Commodity Futures Trading Commission wants to establish a framework to evaluate prediction market contracts and determine whether some contracts are related to invalid events or generally serve the public interest.
Why there’s no end to Visa and Mastercard’s fee battles with merchants
Within hours of a judge’s approval of an interchange settlement, merchant lobbyists were crying foul over the latest attempt to end a two decade legal fight, making references to “next steps,” while analysts predicted an appeal.
Fintech lobbyist says Tennessee remittance tax is unconstitutional
The Financial Technology Association has gone to court, claiming the state’s remittance tax is invalid because it infringes on the dormant commerce clause and import-export clause in the U.S. Constitution, which prohibits states from enacting laws that discriminate against foreign commerce and from taxing imports and exports without Congress’ consent.