Sat.May 04, 2024 - Fri.May 10, 2024

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Banks left in limbo as regulators mull path forward for Basel

American Banker

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

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Proposed credit card fee rules will benefit retailers, not consumers

American Banker

Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.

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House set to vote on nullifying SEC crypto custody guidance for banks

American Banker

The full House is scheduled to vote Wednesday on a Congressional Review Act resolution that would overturn a staff accounting bulletin from the Securities and Exchange Commission. Banks argue that the guidance would effectively cut them out of the crypto custody business.

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A U.S.-dollar-pegged stablecoin would supercharge banking and payments

American Banker

A "true" stablecoin would benefit the economy by improving the money supply, facilitating frictionless payments and lowering the cost of borrowing fiat currency.

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Cannabis rescheduling may boost market, but banking uncertainties loom

American Banker

The Drug Enforcement Administration's early moves to reschedule cannabis could spur some banks to get interested in the market, but experts say without a legislative fix, the fundamental risks to taking on cannabis clients will remain.

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Exclusive: Barr offers supervisory appeals legislation

American Banker

is introducing a bill to establish an Office of Supervisory Appeals at each of the banking regulators and that would give banks more power over the appeals process. Andy Barr, R-Ky.,

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Regulators must reject the Capital One-Discover deal

American Banker

If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous amount of power. That could lead to abuses of vulnerable consumers.

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