Financial reformer and lawmaker Barney Frank dies at 86
The co-author of the landmark Dodd-Frank Act and progressive Congressional trailblazer Rep. Barney Frank, D-Mass., has died.
OCC’s Gould vows to defend preemption ‘as appropriate’
Comptroller of the Currency Jonathan Gould reiterated his pro-preemption stance Wednesday in response to a question on whether he would move to preempt other state laws — like one passed by the state legislature earlier this month in Colorado — if they come to fruition.
Flagstar moves to full-service public finance lending platform
Flagstar — one of the largest regional banks, operating around 340 locations across nine states — recently hired four senior executives.
White House issues immigration executive order for banks
The White House issued an executive order Tuesday directing the Treasury department, bank regulators and the Consumer Financial Protection Bureau to advise banks on “red flags” of informal work arrangements. How agencies implement the order will determine how onerous compliance will ultimately be for banks.
Banking lobbyists should take the win on the stablecoin yield ban
Bank trade groups should be content with the compromise hammered out in the Senate Banking Committee over the stablecoin yield ban in the CLARITY Act. Their push to defeat the bill could leave them worse off in the long run.
OpenAI wants your bank-account data; can you trust them with it?
Plaid strikes a deal with OpenAI that would allow ChatGPT users to upload their bank-account data. Is that such a good idea?
House will vote Wednesday on newest version of housing bill
The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.
NCUA moves to block Illinois swipe fee law
The National Credit Union Administration Tuesday submitted a rule to the Office of Management and Budget stating that federal law preempts state laws on interchange, blocking an Illinois statute banning the collection of swipe fees on taxes and tips.
Regulators propose CAMELS rating overhaul
The Federal Financial Institutions Examination Council — whose members include federal bank regulators — issued a proposal Tuesday to overhaul the bank supervisory ratings process, the first such revision in 30 years. The proposal would reduce the weight management grades have on supervisory ratings and would require rating downgrades to be tied to explicit financial […]
JPMorgan shareholders reject call for more lobbying disclosures
JPMorganChase‘s shareholders have occasionally floated proposals to make sure the bank’s lobbying dollars match its public statements. At the company’s annual meeting on Monday, support for one such measure was down significantly from a similar proposal in 2023.