‘Through the looking glass’: Jamie Dimon sounds off on regulatory burden
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. “I would love to have a more productive relationship with regulators, but I think it takes conversation,” Dimon said.
If Supreme Court sides with CFPB, ‘flurry’ of litigation moves forward
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Democrats push back against Corporate Transparency Act ruling
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury’s newly-established beneficial ownership structure.
‘Credit darling’ Webster Financial reports uptick in defaulted loans
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
Zions, Comerica foresee turnaround on loan growth in late 2024
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
Sen. Warren calls for increased safeguards in stablecoin legislation
In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.
Would ‘You-Snooze-You-Lose’ provisions get agencies to finish rules they don’t start?
Congress passes laws all the time requiring agencies to issue rules on tough problems. But in many cases — and for many reasons — agencies sometimes just don’t do it. Taking those responsibilities away and giving them to another agency might keep agencies on track.
For Old National, ‘business as usual’ after CFO charged with felonies
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
What Synapse’s bankruptcy means for the BaaS model
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
Climate change, stifled mergers and other challenges facing banks and investors
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.