How Project 2025 would affect bankers
A document from the Heritage Foundation, written by some of former President Donald Trump’s top economic advisors, could have a large impact on bank oversight, should Trump win the presidential election this year.
Citi fined $136 million for alleged violations of 2020 consent orders
The megabank isn’t making enough progress in its efforts to improve its risk management systems, according to the Federal Reserve and the Office of the Comptroller of the Currency.
Senators accuse Jamie Dimon of backing off his climate commitments
Elizabeth Warren was among those who criticized Dimon for saying that the bank is going to move away from “commitments” toward “aspirations” on climate.
Texas bank leverages family ownership to drive growth
Susser Bank has proved successful attracting business from small and midsize companies the past two years. It’s hoping a successful capital raise and continued branch expansion can extend the trend.
Powell says Fed can’t muscle FDIC, OCC on new capital proposal
During his second day of congressional testimony this week, the Federal Reserve chair said the central bank does not have supremacy over other agencies on their joint rulemaking.
‘It’s always a black box’: One fintech’s ordeal working with Synapse
GrabrFi, a challenger bank for freelancers outside of the U.S., has found both hurdles and opportunities by working with banking-as-a-service middleware vendors.
CFPB proposes new mortgage servicing rule to aid struggling borrowers
The Consumer Financial Protection Bureau has proposed requiring that mortgage servicers exhaust all efforts at assisting struggling borrowers before moving ahead with a foreclosure.
McKernan and Chopra want clearer bank-fintech guidance
Federal Deposit Insurance Corp. Board Members Jonathan McKernan and Rohit Chopra agreed on the value of clearer bank-fintech guidance to enhance regulatory clarity, foster innovation, and ensure fair competition in the financial services sector.
Visa, Mastercard won’t raise European fees; Alipay adds AI copilots
The card networks extended an agreement to keep interchange the same for cards issued outside of the European Union; meanwhile Ant Group’s Alipay adds a number of AI-powered assistants.
It’s up to state regulators to lead the way in payments innovation
Washington policymakers are not adopting policies necessary to keep the U.S. on the cutting edge in payments. Fortunately, the dual banking system offers an alternative path forward.