The fight over a Consumer Financial Protection Bureau rule adding new restrictions to prepaid cards is intensifying as some Republicans hope to overturn it before a looming deadline for Congress to act expires.
Randal Quarles Set To Be Named To Bank-Supervision Post At Fed
A former top Treasury Department official in the George W. Bush administration is expected to be President Donald Trump’s pick for a top financial regulatory post at the Federal Reserve, a senior official familiar with the matter said Sunday.
Treasury Secretary Steven Mnuchin’s upcoming report on how to rewrite financial regulation is likely to end up looking very similar to a Dodd-Frank overhaul plan in the House, according to the bill’s author, Financial Services Committee Chairman Jeb Hensarling.
U.S. House May Not Kill Debit Card Fee Limits -Banking Panel Chair
The U.S. House banking chairman said on Thursday his attempt to eliminate limits on fees banks can charge retailers for debit card transactions may not survive as he pushes a bill to overhaul financial rules.
As global banks are pulling out of high risk areas, bitcoin seems to be running into a bit of a problem. In the last few weeks, three separate bitcoin exchanges have said they cannot process transactions in dollars as a result of that pullback.
How Banks Can Compete Against An Army Of Fintech Startups
It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet.
NatWest is looking to position itself in competition with the speedy alternative SME lenders through a new platform that will give small business borrowers a decision on their loan application in three minutes.
Wells Fargo & Company is testing a “chatbot”, an automated program that can communicate with the bank’s customers on Facebook’s messaging platform to give them information on their accounts and help them reset their passwords.
All About Scale: The Top 200 Publicly Traded Community Banks
The combination of low interest rates and increased regulatory expenses leaves banks with few options for improving their performance. But one effective strategy — to at least offset the dampening effect — is to bulk up.
Three Overlooked Questions That Can Affect a Financial Plan
It’s always a good time to sit down with clients to review their financial goals and plans. But the new Trump administration gives advisors an extra reason to touch base with clients who may be wondering how this change may impact public policy and the financial markets.
One of the common knocks on the automated investing services is that they can only offer a simplistic buy-and-hold strategy that can’t produce alpha or defend against a market downturn the way a traditional advisor can.
When people talk about addiction, the first thing that comes to mind are illegal drugs, alcohol and tobacco. But in the mobile era, behavioral addiction is much more prevalent and pervasive — and the culprit is the ubiquitous smartphone.
How Delaware’s Blockchain Trial Could Change Wall Street
With a population of just under a million, the small state of Delaware is nevertheless a behemoth when it comes to corporate finance law. The state carries the distinction of having the most well-developed body of corporate law in the country.
Thirty Years After the Last Major Tax Reform, Is It Time to Retool?
The last major tax reform — personal and corporate — came some 30 years ago. Despite much tweaking in the interim, “everybody agrees that something needs to be done” to modernize the tax code, says Kent Smetters, a Wharton professor of business economics and public policy.
Increasing regulatory requirements and expectations in Banking can create a large burden on operational effectiveness. When compliance processes are simply “bolted on” to existing operational processes, the results are often less than satisfactory to both the operations manager and the compliance officer.