#banking-regulation

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fromwww.theguardian.com
1 day ago

Reform UK could strip FCA of power to regulate banking if elected

Nigel Farage could strip the City watchdog of its power to regulate the banking industry under a sweeping overhaul to undo changes made after the 2008 financial crisis if Reform UK was elected to government. The leader of the party at the top of opinion polls has said he wants to prepare for the potential for an early general election in 2027.
UK politics
fromTruthout
3 days ago

Democratic Senators Demand Banks Disclose Policies on Predatory Overdraft Fees

"Overdraft and non-sufficient fund (NSF) fees are 'one of the most common exploitative mechanisms big banks use to target the poor,' Senators Elizabeth Warren (D-Massachusetts), Richard Blumenthal (D-Connecticut), and Bernie Sanders (I-Vermont) wrote to 25 banks on August 28, including JPMorgan Chase, Wells Fargo, PNC Bank, TD Bank, and Bank of America. 'When consumers' finances are already stretched thin, exorbitant overdraft fees can cause other payments to bounce - leading to even more fees in a vicious circle that can 'turn setbacks into crises,'"
US politics
Miscellaneous
fromTechzine Global
1 week ago

Bunq bank hit with 2.6M fine for insufficient money laundering monitoring

Bunq failed to report all suspicious transactions and maintained ineffective anti-money-laundering controls, prompting a DNB fine amid wider Dutch banking shortcomings.
US politics
fromFortune
2 weeks ago

Inside the battle between the old guard and the upstarts for the future of the financial system

The battle between fintech firms and banks centers on open banking concepts and regulatory shifts within the Trump administration.
fromBitcoin Magazine
1 month ago

Bitcoin Price Holds $115K As White House Targets Bitcoin And Crypto Debanking In New Order

The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons.
Cryptocurrency
fromwww.theguardian.com
1 month ago

Chancellor's attempt to intervene in car finance scandal branded disgraceful'

Dean criticized the intervention as unprecedented and disgraceful, asserting that it sends a bad message to consumers about government support for banks over consumer rights.
US politics
Retirement
fromIrish Independent
2 months ago

Donohoe scraps banker pay cap brought in after bailouts

The removal of salary caps for senior executives at bailed out banks indicates a shift toward normalizing the banking sector after financial crisis interventions.
US politics
fromwww.mediaite.com
3 months ago

Elizabeth Warren Scolds CNBC Anchor: You're Tossing Confetti' for Big Bank That's Been Tagged for Money Laundering!'

Sen. Warren criticizes the lifting of Wells Fargo's asset cap, emphasizing ongoing issues despite regulatory measures.
UK news
fromwww.theguardian.com
3 months ago

US reportedly plans to slash bank rules imposed to prevent 2008-style crash

US regulators are likely to reduce bank capital rules, raising concerns of financial instability akin to the 2008 crisis.
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