Margin pressure, potential loans losses on radar for small bank earnings
With the Federal Reserve holding interest rates at elevated levels through the first half of the year, analysts are sharpening their collective focus on possible fallout from high deposit and borrowing costs.
‘Anti-woke’ bank hit with FDIC consent order as losses mount
Old Glory Bank, which has ties to conservative political figures and touts itself as “pro-America,” needs to raise more capital to meet its regulator’s requirements. “Failure is not an option. We’re going to figure this out,” the bank’s president and CEO said.
Peer-to-peer wallet apps remain sticky despite fraud and scams
Consumers tend to use the P2P apps their friends and family members prefer, and most are unlikely to switch platforms in the next year, according to a new study from J.D. Power.
The FDIC’s resolution plan for failed megabanks is an empty promise
The Federal Deposit Insurance Corp.’s framework for resolving a large bank failure is inadequate and leaves the door open to future taxpayer-subsidized bailouts.
Scalia: ‘Regulators are wise to be more careful’ after Chevron ruling
Euene Scalia, former Secretary of Labor and the banking lobby’s lawyer on retainer for a potential challenge to Washington’s capital reform effort, discusses the state of administrative law after the overturning of a key legal precedent.
Top executives at collapsed crypto bank Silvergate hit with SEC charges
Silvergate’s former CEO and onetime chief risk officer settled allegations that they misled investors about the strength of the bank’s anti-money laundering compliance program. Meanwhile, Silvergate’s former CFO denied separate allegations by the SEC and vowed to defend himself in court.
Patrice Ficklin, CFPB’s head of fair lending, to leave for Fannie Mae
Ficklin has been the CFPB’s only fair lending director since 2011, establishing the office under Elizabeth Warren and pushed fair lending enforcement beyond mortgages into other financial products such as credit cards.
What banks should know about SCOTUS’ ‘swipe fee’ ruling
The court didn’t rule on the merits of any regulation, but made it much easier to challenge rules governing banking.
How JPMorgan Chase is fraud-proofing its branches
The bank has seen positive returns expanding its national branch network, but it is contending with fraudsters who are increasingly targeting branches.
Exclusive: Brown urges Synapse partners to restore consumer funds
Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking Committee, told Synapse’s partner banks, fintech companies and investors to pool together resources to immediately restore customer’s access to deposits frozen in lengthy bankruptcy proceedings.