The ties that bind banks and FinTechs will be more closely watched by the Federal Deposit Insurance Corporation (FDIC), and a formal proposal/rule from the regulatory agency, governing accounts in banking-as-a-service relationships, may come sooner rather than later. As reported this week by news outlets...
Last year marked a seismic shift in financial services — as five bank failures tested the ways and means at the disposal of government and industry to prevent wider contagion. Silicon Valley Bank, of course, was the arguably the headliner, representing the second largest bank...
Federal Reserve Chair Jerome Powell announced in a Senate Banking Committee hearing on Thursday (June 22) that smaller banks with assets below $100 billion will not be affected by expected new rules requiring banks to keep more capital in the wake of bank collapses in March....
Possible future banking regulations came to light during a Senate committee hearing. The proposals were mentioned by Federal Reserve Vice Chair for Supervision Michael Barr and Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg during a Tuesday (March 28) hearing of the Senate Banking Committee that...
March 27, 2023
It’s common practice on Capitol Hill for witnesses — appearing before various committees — to release their testimony ahead of time. And what’s written down sets the tone for the conversation and the questioning that’s sure to follow. Ahead of his appearance before the Senate Banking Committee, slated to focus Tuesday on Silicon Valley Bank […]
June 22, 2023
Federal Reserve Chair Jerome Powell announced in a Senate Banking Committee hearing on Thursday (June 22) that smaller banks with assets below $100 billion will not be affected by expected new rules requiring banks to keep more capital in the wake of bank collapses in March. The capital requirements will mainly impact the eight largest U.S. […]
March 28, 2023
Possible future banking regulations came to light during a Senate committee hearing. The proposals were mentioned by Federal Reserve Vice Chair for Supervision Michael Barr and Federal Deposit Insurance Corp. (FDIC)...
March 27, 2023
America’s banking regulator is investigating the recent collapse of two lenders. Martin Gruenberg, chairman of the Federal Deposit Insurance Corp. (FDIC), says his agency is looking into how and why...
March 23, 2023
House Republicans want more answers from the White House on the recent banking crisis. The chair and vice chairman of the House Financial Services Committee wrote to the Biden Administration...
