CFPB proposes banning NSF fees for instantaneous transactions
The CPFB proposed what it characterized as a “proactive step” to prevent banks and other financial institutions from charging fees...
Policy
Princeton Bancorp to purchase Cornerstone Financial
The $2 billion-asset Princeton Bancorp in New Jersey said in a press release that it has agreed to buy the...
Fed extends comment period on debit card interchange fee proposal
The Federal Reserve announced that it has extended the public comment deadline to May 12 for its proposal to lower...
Closing the book on account closures
The reality behind account closures is complicated and driven by the nation’s interest in protecting the financial system from a...
Regulators say banks responsible for ensuring AI complies with law
Any new technology utilized by a financial institution—including artificial intelligence—must be done so in a way that complies with existing...
Labor Department issues FAQ on pension-linked emergency savings accounts
The Department of Labor published an FAQ regarding pension-linked emergency savings accounts, or PLESAs, which were mandated by the 2022...
ABA: Climate disclosure rule would lead to increased costs for smaller banks
The SEC’s proposed greenhouse gas emissions reporting rule could unintentionally result in increased costs and reporting burdens on small banks...
OCC’s Hsu discusses possible changes to liquidity regulation and supervision
A new targeted regulation requiring midsize and large banks to show they can maintain sufficient liquidity for at least five...
Fed’s Barr: Banks need to think beyond cyber defense
Cybersecurity preparedness has become increasingly important for banks but focusing on defense is not enough—banks must also develop and regularly...
Lawmakers raise concerns about proposed capital standards
In a series of letters, Republican and Democratic lawmakers in the House and Senate expressed concern that the proposed Basel...
