From: Financial Regulation News
The Consumer Bankers Association (CBA) maintains actions by federal regulators unfavorably impact small-dollar lending consumers by forcing them to payday lenders and other less regulated sources when in need.
CBA officials said the input stems from the Federal Deposit Insurance Corporation’s (FDIC) request for information on its 2013 small-dollar guidance.
From: ABA Banking Journal
Risks to the U.S. financial system remain moderate, though factors outside the U.S. — including Brexit — could potentially threaten financial stability in the months ahead, the Financial Stability Oversight Council said today in its annual report. The council also noted that an increasing federal government debt burden could negatively affect financial stability in the long-term.
Editor’s Note: Cross-posted from Regulatory Cybersecurity/FISMA Focus.
From: American Banker | BankThink
One of the best-known inventions in banking oversight in recent years is the “regulatory sandbox.” Pioneered by the U.K.’s Financial Conduct Authority, these are running now in about two dozen countries and several U.S.states, allowing fintech innovators to conduct live, small-scale testing under the regulator’s supervision.
***
From: Wall Street Journal
By Ryan Tracy
WASHINGTON—The Federal Reserve is set to propose a new way of deciding which large banks get hit with its toughest regulations, according to people familiar with the matter.
The expected plan may lower regulatory costs for regional U.S. lenders under the $700 billion asset line, from Discover Financial Services Inc. at around $100 billion in assets to U.S. Bancorp with its roughly $460 billion. The changes under consideration appear to be less beneficial to the very largest U.S. banks considered “systemically important” to the global financial system, such as Bank of America Corp. or Citigroup Inc.
From: The Washington Examiner
State bank regulators are suing a federal counterpart over a provision aimed at defining banking in the Internet age.
The Conference of State Bank Supervisors filed a lawsuit against the Office of the Comptroller of the Currency Thursday over the latest version of its financial technology charter. The charter would allow financial technology companies that don’t take deposits to circumvent state-by-state registration and some state-level regulations, as banks do.