2024 is fast becoming the summer of consent orders for smaller banks. That’s because, with the news Friday (June 28) that Tennessee-based Thread Bancorp is now the latest financial institution (FI) to come under the Federal Deposit Insurance Corporation’s (FDIC) scrutiny, managing for the operational,...
The Consumer Financial Protection Bureau (CFPB) has taken another step in its push to accelerate open banking. The U.S. consumer watchdog on Wednesday (June 5) announced it had finalized a rule outlining the qualifications to become a recognized industry standard setting body. An entity like...
The Federal Deposit Insurance Corp.’s (FDIC) first-quarter assessment on the banking industry takes note of several trends: Declining loan demand, delinquencies that were higher than a year ago … … and an increase in “problem” banks, even as uninsured deposits grew in the first quarter....
At this writing, on Tuesday (May 28), the ripple effects of Synapse’s bankruptcy keep rippling. But with each filing, with the reports that customers can’t retrieve their money, that sponsor banks and other FinTechs have walked away from relationships with the funds … and even...
July 01, 2024
2024 is fast becoming the summer of consent orders for smaller banks. That’s because, with the news Friday (June 28) that Tennessee-based Thread Bancorp is now the latest financial institution (FI) to come under the Federal Deposit Insurance Corporation’s (FDIC) scrutiny, managing for the operational, compliance and strategic risks that come with third-party tie-ups is […]
May 01, 2023
The suddenness of the Silicon Valley Bank collapse shocked the venture capital and technology communities. When the bank’s massive investment losses caused a significant swath of depositors to withdraw their...
September 09, 2022
In India, a broadening by the Reserve Bank of India (RBI) of the ways and means through which citizens can send money abroad will open the floodgates to FinTechs and...
September 11, 2019
Europe’s revised Payment Services Directive, or PSD2, is among the regulations designed to increase innovation when it comes to digital transactions of all types. According to a new PYMNTS interview...
July 08, 2024
Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules. Bligh said this in a Wednesday (July 3) press release announcing research that found that four years after the implementation of Australia’s open banking rules — the Consumer Data Right (CDR) regime […]
June 05, 2024
The Consumer Financial Protection Bureau (CFPB) has taken another step in its push to accelerate open banking. The U.S. consumer watchdog on Wednesday (June 5) announced it had finalized a...
May 21, 2024
Paytm’s stock has reportedly fallen considerably amid the company’s troubles with Indian banking regulators. Shares in Paytm are down roughly 61% in the last six months, Bloomberg News reported Tuesday (May 21),...
March 05, 2024
The Federal Reserve and other American regulators could reportedly unveil new banking regulations this spring. That’s according to the New York Times (NYT) report Tuesday (March 5) on the response to last...
