SEC settles with SolarWinds and its CISO over 2020 breach
The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
ARMs tripled at banks over past decade
Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
N.J. to consider CRA bill that would rope in nonbanks
New Jersey state lawmakers have introduced a state-level Community Reinvestment Act that would include online lenders and credit unions — who are exempt from the federal law — in its scope.
Sunshine Act Notice: FDIC Board of Directors Meeting
SUNSHINE ACT NOTICE The FDIC Board of Directors will meet in an open session: Date and Time: Tuesday, July 15, 2025, at 10:00 a.m. ET Place: The Board meeting will be open to public observation by webcast. Members of the media should contact the Office of Communications by Monday, July 14, at mediarequests@fdic.gov to attend in […]
BNY to take over custody of Ripple’s stablecoin reserves
One of the oldest U.S. banks is taking on custody of RLUSD, as stablecoins continue their perceived march toward general acceptance.
Military credit union group urges Congress to fund CDFIs
The group expressed concern with the White House proposal to reduce the program’s funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.
Supreme Court ruling won’t directly impact CFPB case
The union representing Consumer Financial Protection Bureau in their suit against mass firings at the agency said the Supreme Court’s ruling allowing President Trump to proceed with mass reductions-in-force elsewhere does not impact the union’s lawsuit.
Fannie, Freddie add VantageScore, keep tri-merge
The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.
Banks can either get on board the stablecoin train, or get run over
Stablecoins are already disrupting traditional finance and have the potential to eat away at banks’ deposit base. Banks should be looking for ways to turn this emerging threat into an opportunity.
Trump tariff extension leaves banks, Fed in limbo
Steep trade barriers that were set to go into effect on July 9 have once again been put on pause, giving banks a welcome reprieve, but adding still more pressure and uncertainty on the Federal Reserve and the broader economy.