It’s time to reprioritize safety in banking as a service
We’ve seen what can happen when BaaS providers fail to adequately protect consumers. Across the industry, we need to institutionalize the principles of safe banking, both inside and outside of traditional banks.
FDIC considers lawsuit against ex-SVB executives
The Federal Deposit Insurance Corp. is considering suing former Silicon Valley Bank executives over risk management decisions, imprudent dividends, and billions in losses that fueled a banking crisis in 2023.
Politics, history, hubris: why agency consolidation isn’t easy
Proposals to streamline U.S. banking regulators have resurfaced with the Trump administration’s focus on efficiency, but experts and history suggest such changes are unlikely amid political and industry resistance.
CFPB targets card industry over the devaluation of rewards
As the Biden administration comes to a close, the agency called out “bait-and-switch tactics” by card issuers. It also announced a new tool allowing consumers to comparison-shop for credit cards.
PACE loan rules finally issued by CFPB
Six years after Pres. Trump signed Dodd-Frank reform, the Consumer Financial Protection Bureau issued rules bringing these loans under Truth-in-Lending.
House Republicans warn banking agencies to pause rulemakings
Letters hint at more oversight of the banking agencies, as well as the Treasury Department, the CFPB and the Securities and Exchange Commission, under the Republican-controlled Senate.
CFPB scrutinizes the role of credit cards in sports gambling
New bureau research digs into the fees that bettors get charged when they use credit cards to fund gambling accounts.
Banks could see an end to Chokepoint 2.0 in 2025
The coming year will bring banks the ability to work with digital assets and crypto companies, according to speakers at American Banker’s Cyber Risk Summit.
We’re about to find out how populist Trump 2.0 really is
The populist strain that has long animated the left wing of the Democratic party seems to have migrated to the Republican center, benefiting President-elect Donald Trump in this year’s election. We’re about to find out whether right-wing populism is as earnest as its left-wing predecessor.
FDIC mulls blanket dividend restrictions in times of stress
Members of the Federal Deposit Insurance Corp. board of directors Tuesday debated Consumer Financial Protection Bureau Director Rohit Chopra’s proposal limiting capital distributions system-wide during times of stress, as well as penalties for institutions caught engaging in money laundering.