Gruenberg unlikely to resign amid FDIC workplace scandal
While bipartisan concerns have been raised about workplace abuse at the Federal Deposit Insurance Corp., experts say chair Martin Gruenberg is unlikely to bow to calls for his resignation in part to ensure the competition of the agency’s regulatory agenda. But that could change if those calls become more stringent and bipartisan.
Activist group boosts its offer to buy New York-based Carver
Dream Chasers upped its bid for Carver, one of the nation’s largest and highest-profile Black banks, by a quarter, to $3.25 per share, dismissing the growth strategy interim CEO Craig MacKay outlined in a recent shareholder letter.
Regulators extend comment period on long-term debt proposal
Bank regulatory agencies extended the comment period on a proposal to require large banks to hold long-term debt until January 16, citing the need for stakeholders to thoroughly assess the proposal’s implications.
Mortgage rates slide — but not enough to alleviate housing crunch
Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller’s strike, economists said.
Canada plans for open banking, Mastercard expands in Asia
Canada’s government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.
How credit unions are speeding up merchant-funded rewards
The instant-payments environment is encouraging more consumers to participate in rewards through checking accounts, earning them a cash-back bonus or a discount that gets funded faster than interchange-based rewards.
Sam Altman returns as OpenAI CEO in chaotic win for Microsoft
The decision to restore him to the world’s best-known AI startup marks a significant victory for Microsoft which worked with fellow investors to reverse Altman’s firing. CEO Satya Nadella publicly supported Altman throughout the turmoil and briefly agreed to hire him at Microsoft to start a new in-house research group.
Joint Press Release: Agencies Extend Comment Period on Proposed Rule to Require Large Banks to Maintain Long-Term Debt
JOINT PRESS RELEASE | NOVEMBER 22, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Extend Comment Period on Proposed Rule to Require Large Banks to Maintain Long-Term Debt Federal bank regulatory agencies announced today that they will extend until January 16, 2024, the comment […]
Recent court rulings are good news for banks facing FCRA litigation
Federal reports have sharply limited the kind of plaintiffs who can prove they have standing to sue financial institutions under the Fair Credit Reporting Act.
FHFA finalizes updates to capital framework
Some proposed changes to uniform mortgage-backed securities, apartment loans and derivatives will be made while one involving credit reports and scores was pulled.