February 29, 2024
Via: FinTech FuturesIn its recently published Q4 and full year financial results for 2023, Green Dot states that the matters addressed in the proposed consent order “relate to activities and practices that commenced prior to the company’s Chief Executive Officer transition in […]
January 30, 2024
Via: Banking Dive2023 brought the most contentious proposed regulation in years: a revamp that would require the U.S.’s biggest banks to hold roughly 19% more capital than they do now. Lawmakers and trade groups opposed to the rule first attacked it on […]
January 19, 2024
Via: Banking DiveThe Federal Reserve has made headway in adding banks to its new FedNow system, with a tally of 400 participating financial institutions, but some of the biggest U.S. banks are still on the sidelines six months after the instant payments […]
January 16, 2024
Via: Banking DiveThe Federal Reserve Board last week banned a former banker from future work in the industry and issued enforcement actions against three others over their mishandling of sensitive information, according to a Thursday press release from the central bank. John […]
December 28, 2023
Via: DailyFX2023 was a year that lessened the stature of central bank forward guidance. Forward guidance is a tool used by central banks to communicate monetary policy projections. Historically, markets viewed this messaging in high regard as it often tied into […]
December 15, 2023
Via: YahooU.S. Bancorp USB shares soared 6.7% in the last trading session to close at $45.33. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 14.3% gain […]
December 13, 2023
Via: DailyFXThe Federal Reserve is expected to leave interest rates untouched for the third meeting in a row later today as inflation in the US continues to fall. Chair Powell has remained adamant that the US central bank would hike rates […]
October 31, 2023
Via: FinTech FuturesThe proposals specifically seek to determine whether interchange fees for processing a transaction are “reasonable and proportional to certain issuer costs”. It forms the most significant update to the cap since the Reserve first implemented restrictions on debit card issuers […]
Capital and Risk, Channels, Operational
October 11, 2023
Via: Payments DiveParticipation in the Federal Reserve’s real-time payment settlement service, FedNow, has expanded from an initial group of 50 banks and credit unions to more than 100, Fed Gov. Christopher Waller said Friday at a payments conference held by the Brookings […]
September 25, 2023
Via: Bank DirectorInstant payments are here and many banks aren’t ready. The launch of FedNow from the Federal Reserve is a catalyst that could reshape payments in the United States. But faster payments have yet to penetrate the majority of banks. Only […]
September 18, 2023
Via: DailyFXThe Federal Reserve (Fed) and the Bank of Japan (BoJ) will both announce their latest monetary policy decision this week – Wednesday and Friday respectively – with both central banks expected to leave interest rates untouched. Both decisions however have […]
Capital and Risk, Credit, Regulations
August 1, 2023
Via: Banking DiveBanks have tightened lending standards as the Fed, beginning in March 2022, raised interest rates 11 times — the most aggressive pace in four decades. Policymakers, aiming to curb inflation to the central bank’s 2% target, increased the federal funds […]
July 27, 2023
Via: Banking DiveThe Bank Policy Institute and American Bankers Association submitted a petition this week to the Federal Reserve to consider a rulemaking process and seek public comments on its annual scenarios used to determine stress capital buffer requirements. In a letter […]
June 29, 2023
Via: Banking DiveFederal Reserve Chair Jerome Powell stressed the importance of strong capital buffers for a resilient banking system, as evident from the failures of Silicon Valley Bank and two other midsize banks in March and May. While speaking Thursday at an […]
May 17, 2023
Via: Bank DirectorIn the weeks following Silicon Valley Bank’s downfall, the 25 largest U.S. banks experienced a $120 billion increase in deposits, according to the Federal Reserve. Meanwhile, the nation’s midsize and community banks saw deposits fall by over $108 billion during […]
May 15, 2023
Via: Bank DirectorThe day Silicon Valley Bank failed on March 10, the bank paid out millions in bonuses to senior executives for its 2022 performance, according to the Federal Reserve’s April postmortem analysis and the bank’s proxy statement. Those bonuses were paid […]
April 26, 2023
Via: FinTech FuturesBut when it comes to payments, the US has been lagging compared to its peers in Europe, Africa and Asia. Whether it’s contactless payments, UPI, open banking, PayNow or NITMX, nations across the world are racing ahead when it comes […]
April 18, 2023
Via: CNSNews.comFederal Reserve Chair Jerome Powell recently testified before Congress on the current state of the US economy. In addition to monetary policy, Powell was questioned about the Fed’s regulatory proposals regarding cryptocurrencies and climate-related financial risks. Barely mentioned, however, was […]
March 22, 2023
Via: DailyFXCrude oil markets are trading cautiously like most others on Wednesday in Europe as investors await the United States Federal Reserve’s March monetary policy decision, due later in the global day. On a more market-specific note, a shock rise in […]
March 13, 2023
Via: FinTech FuturesIn a joint statement, Treasury secretary Janet Yellen, Federal Reserve board chair Jerome Powell, and Federal Deposit Insurance Corporation (FDIC) chair Martin Gruenberg outlined how they are taking “decisive action” to strengthen confidence in the banking system. As well as […]