NEW YORK–The nation’s big Wall Street banks are no safer today than they were prior to the financial crisis of 2008, even though numerous new rules have been enacted with a goal of improving safety and soundness.
Fresh Today
ARLINGTON—NAFCU is urging the Department of Defense to delay the effective date of its Military Lending Act rule and provide additional guidance on it.
DENVER–Denver linebacker Brandon Marshall, who was dropped as a spokesperson by Air Academy FCU after he took a knee during the playing of the national anthem prior to a game, said he was surprised at the decision to let him go, but also happy to have now picked up a new endorsement.
DES MOINES, Iowa–Just weeks into his new job as the business development manager for a regulatory compliance firm, Jason Harpenau recognized the need to start a conversation about the problematic lack of compliance talent available to the movement.
WASHINGTON—The House last week passed the Regulatory Integrity Act of 2016, HR 5226, which would mandate that each executive agency make publicly available a list of each pending regulatory action.
NEW YORK–The chief of New York City’s financial services department is calling on the state-chartered banks and credit unions to accept municipal identification cards, such as the NYC ID card, when cardholders are seeking to open accounts.
WASHINGTON—CUNA has written to Sen. Mike Rounds (R-SD) supporting two of his bills that would provide regulatory relief to credit unions.
SAN FRANCISCO–Wells Fargo has received subpoenas from three different U.S. attorneys’ offices in the last week as the investigation grows into how more than 5,000 of its employees could be involved in a scheme that created more than one-million bogus customer accounts.
WASHINGTON–Mortgage applications were up 4.2% last week, according to the latest data from the Mortgage Bankers Association.
SAN FRANCISCO—The number of banks, merchants, and card issuers offering their own mobile wallets seemingly grows every week in 2016, confirming that interest in mobile proximity payments has never been hotter.