Trump rolls back some Biden cyber and fraud directives
A new executive order reverses digital ID initiatives, fraud alerts and federal data-sharing plans from which banks stood to benefit.
FDIC sends draft leverage ratio rule to OIRA for review
The Federal Deposit Insurance Corp. has sent a draft proposal to revise the supplemental leverage ratio to the Office of Information and Regulatory Affairs as a first step toward revising the leverage rule.
Scotiabank head-office staff to return to office 4 days/week
Bank of Nova Scotia’s plans will start in September, as the Canadian bank cites a push for more collaboration.
Banks should be cautious about celebrating big regulatory rollbacks
Trump’s bank regulatory team is advancing all types of wish-list reforms, some more radical than others. When, not if, the political winds change, banks should be ready for a sharp reversal, what could become a wave of “revenge regulations.”
Walmart returns to Synchrony Financial as credit card issuer
Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart’s existing credit card program.
Bucking the trend: Why one credit union became a bank
After years of laying the groundwork, Thrivent Financial for Lutherans has converted its credit union into an all-digital bank. Here’s a look at the company’s strategy.
How BMO and Truist use AI to improve customer experience
Tech leaders explain how they’re trying to use artificial intelligence to better understand customers and communicate with them, without seeming robotic.
Another pair of Boston-area banks unveil plan to merge
NB Bancorp’s deal for Provident Bancorp is the fourth announced in the Bay State since December. It comes nearly three years after bad crypto mining loans led to massive losses at Provident.
Senate banking budget bill overhauls CFPB funding
The Banking Committee’s portion of the Senate budget bill would eliminate the Consumer Financial Protection Bureau’s ability to request funding from the Federal Reserve, a move that goes further than House Republicans’ version of the bill.
Democrat bill pushes back on beneficial ownership rollback
Congressional Democrats offered a bill Friday requiring the Treasury Department to apply the anti-money laundering requirements of the Corporate Transparency Act more fully and help educate small businesses on how to comply with reporting of beneficial ownership information.