Category: bank regulations

America’s Banking Regulators Have Failed

April 2, 2023
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Commentary March 28 hearings on bank regulation exposed the shortfall of federal regulation. The hearings came in the wake of the Silicon Valley Bank (SVB) failure and the stresses on other banks, like Signature and Republic.  To put it frankly, the hearings exposed our regulators appear to be virtually useless. Among things we learned last week:…

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House Financial Services Chair Warns Against Quick Regulatory Fixes For Banking Crisis

March 25, 2023
bank regulationsBusiness & Marketscongresseconomic policieseconomyHouse Financial Services CommitteeinflationInvestmentMarketsPolicies & ImpactsPoliticsrecessionUSUS News
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The House Financial Services Committee Chairman Patrick McHenry (R-N.C.), warned against quick regulatory fixes for the banking crisis. The congressman from North Carolina told the American Bankers Association Washington Summit on March 22, we “cannot legislate confidence” when it comes to the banking sector. He stated that it was too early to see if any new…

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Big Banks Face $1 Billion in Fines Over WhatsApp, Other Unapproved Message Tools, Says Report

August 22, 2022
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Major banks such as JPMorgan Chase, Citigroup, and Bank of America are collectively facing more than $1 billion in regulatory fines, after employees used unapproved communication tools, such as private email and messaging apps like WhatsApp. The U.S. Securities and Exchange Commission (SEC) discovered the violations after probing several banks’ record-keeping practices relating to the use…

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What’s Behind Beijing’s Latest Round of Bank Regulations

October 18, 2021
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Commentary Beijing is tightening governance around banks and insurance companies to bar large shareholders from having excessive influence and engaging in unfair dealings. China wants to rein in financial sector risk and corporate governance. Many of these affiliated deals generated losses or bad debts for banks. But there are other layers to this new round…

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