Bank regulators fight for desks as OCC returns to NYC tower
Places to work at the 7 Times Square location “will be available on a daily first-come, first-serve basis,” the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.
SBA moves to increase lender fees in flagship program
The mid-year fee hike was necessary to reverse a revenue shortfall in the agency’s 7(a) program, according to Administrator Kelly Loeffler.
Press Release: FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities
PRESS RELEASE | MARCH 28, 2025 FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities WASHINGTON – Today, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-7-2025) that provides new guidance for FDIC-supervised institutions engaging or seeking to engage in crypto-related activities. The new guidance, which rescinds FIL-16-2022, clarifies that FDIC-supervised […]
Exclusive: All CDFI programs legally required, Treasury says
The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said “no final decisions have been made” about the programs.
Regulators to rescind CRA rule, revert to pre-2023 standards
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency say they will move to rescind a 2023 reform to the Community Reinvestment Act, citing litigation concerns about the rule.
CFPB retreats from classifying BNPL like credit cards
The Consumer Financial Protection Bureau said in a court filing that it plans to reverse its interpretive rule tightening standards for Pay in 4 buy now/pay later loans.
Joint Press Release: Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule
JOINT PRESS RELEASE | MARCH 28, 2025 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act […]
SEC drops case against Kraken in latest crypto reversal
The SEC had sued the cryptocurrency exchange for allegedly operating as an unregistered securities exchange, broker, dealer and clearing agency. The case was dropped with prejudice.
Mercury’s $300 million raise fosters hope for a fintech spring
Fintech firm Mercury, which provides banking services to businesses, says it now has 200,000 customers after raising $300 million in C-round funding.
The FDIC should take a deliberate, phased approach to reform
The acting chairman of the agency had laid out an ambitious agenda for revamping regulations and encouraging innovation, but there are dangers in trying to do too much, too soon.