by Ken Chase | Feb 23, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) Office of Inspector General (OIG) recently delivered a report outlining the key challenges faced by the agency in the coming years. The report focuses on problems that the FDIC will need to address to successfully do...
by Ken Chase | Feb 21, 2023 | Banks, News
A newly legislative proposal to block the Biden administration’s efforts to increase IRS powers to force banks to disclose private bank account information to the Internal Revenue Service has received support from both the US Chamber of Commerce (the Chamber)...
by Ken Chase | Feb 21, 2023 | Banks, News
Major banks have recently weighed in with their expectations for additional Federal Reserve interest rate hikes, forecasting that the central bank will raise those rates three more times before the end of 2023. That’s according to Reuters, which cited predictions from...
by Ken Chase | Feb 14, 2023 | Banks, News
The Federal Reserve Board of Governors has announced the various scenarios it will use for its 2023 bank stress test. The test is an annual assessment designed to ensure that the nation’s banks have the resilience needed to meet the challenges posed by several...
by Ken Chase | Feb 14, 2023 | Banks, News
New York City officials this week announced new measures designed to ensure that the city’s banking institutions remain committed to fighting banking discrimination in hiring and lending. The two transparency measures will apply to any banks that seek to hold city...
by Ken Chase | Feb 11, 2023 | Banks, News
Banking giant Wells Fargo has reportedly agreed to a $300 million settlement in a class action lawsuit related to the company’s alleged involvement in a collision protection insurance fraud scheme. The settlement was announced by Robbins Geller Rudman & Dowd LLP,...
