House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday (Oct. 31) to regulators at the Federal Reserve Board, Office of the Comptroller of the...
Jamie Dimon, CEO of J.P. Morgan Chase, the largest bank in the United States, said Monday (Oct. 28) that his colleagues should fight against overregulation. He said the industry is saddled with redundant or badly-conceived regulations on things like open banking, Reuters reported Monday. “It’s...
Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the Federal Reserve Board. The Washington Department of Financial Institutions (WDFI) also agreed to these measures. The enforcement action follows the...
The Federal Reserve’s Beige Book — released eight times a year, with the latest report debuting Wednesday (Oct. 23) afternoon — offers up a qualitative take on the state of the U.S. economy, spanning 12 districts nationwide. And this time around, amid the puts and...
October 24, 2024
The Federal Reserve’s Beige Book — released eight times a year, with the latest report debuting Wednesday (Oct. 23) afternoon — offers up a qualitative take on the state of the U.S. economy, spanning 12 districts nationwide. And this time around, amid the puts and takes, the general consensus among banks and businesses is that […]
October 09, 2024
Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt,...
October 07, 2024
Monday (Oct. 7) marked a double dose of economic data that provided a continued diet of mixed signals. First up, the Federal Reserve’s latest data on consumer credit showed an overall...
October 02, 2024
Federal Reserve Governor Lisa Cook is tempering expectations of an artificial intelligence (AI) productivity impact, while Malaysia unveiled ambitious plans to become an AI hub and the European Commission assembled...
October 31, 2024
House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday (Oct. 31) to regulators at the Federal Reserve Board, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corp. (FDIC) responding to […]
October 28, 2024
Jamie Dimon, CEO of J.P. Morgan Chase, the largest bank in the United States, said Monday (Oct. 28) that his colleagues should fight against overregulation. He said the industry is...
October 24, 2024
Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the Federal Reserve Board. The Washington...
October 20, 2024
Banks are reportedly cutting the interest rates they pay on corporate deposits faster than those they pay on consumer deposits. These cuts followed the Federal Reserve’s lowering of benchmark lending...
