If Supreme Court sides with CFPB, 'flurry' of litigation moves forward
American Banker
by Kate Berry
6h ago
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge ..read more
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Democrats push back against Corporate Transparency Act ruling
American Banker
by Claire Williams
7h ago
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure ..read more
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'Credit darling' Webster Financial reports uptick in defaulted loans
American Banker
by Allissa Kline
9h ago
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year over year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said ..read more
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Zions, Comerica foresee turnaround on loan growth in late 2024
American Banker
by Catherine Leffert
9h ago
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing ..read more
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Sen. Warren calls for increased safeguards in stablecoin legislation
American Banker
by Frank Gargano
11h ago
In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals ..read more
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Would 'You-Snooze-You-Lose' provisions get agencies to finish rules they don't start?
American Banker
by John Heltman
12h ago
Congress passes laws all the time requiring agencies to issue rules on tough problems. But in many cases — and for many reasons — agencies sometimes just don't do it. Taking those responsibilities away and giving them to another agency might keep agencies on track ..read more
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For Old National, 'business as usual' after CFO charged with felonies
American Banker
by Jim Dobbs
12h ago
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth ..read more
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What Synapse's bankruptcy means for the BaaS model
American Banker
by Miriam Cross
14h ago
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate ..read more
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Climate change, stifled mergers and other challenges facing banks and investors
American Banker
by Courtney Hoff Dockerty
14h ago
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies ..read more
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Turning Fannie Mae into a title insurer won't solve housing challenges
American Banker
by Diane Tomb
16h ago
The Biden administration's proposal to waive title insurance requirements for mortgage lenders would undercut an efficient system that offers homebuyers important protections ..read more
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