OCC Report Accuses Banking Giants of Political ‘Debanking’
Federal regulators said some of the largest banks in the United States allowed political concerns to shape who received services. The Office of the Comptroller of the Currency released a…
regulations
39 articles
FTC Cases Put Digital Businesses’ Promises and Practices Under Scrutiny
Digital businesses that don’t keep their promises to consumers can pay a heavy price if caught by the Federal Trade Commission (FTC). Enforcement actions in cases involving unfair and deceptive…
Artificial Intelligence
Governments Draw the Line on Where AI Glasses Can Go
Artificial intelligence glasses such as Ray-Ban Meta can film people around the wearer, often without those people knowing, and governments are only now deciding what to do about it. Norway…
Earnings
Bank of America Profits Fall 17% Following $1.2 Billion Money Laundering Fine
Bank of America’s profits dropped 17% during the third quarter, according to a Wednesday (Oct. 14) quarterly earnings press release, following a $1.2 billion regulatory fine over money laundering violations.…
Artificial Intelligence
AI Becomes Part of the Machinery of UK Financial Supervision
Artificial intelligence is becoming part of the machinery of financial supervision in the United Kingdom as the Financial Conduct Authority deploys tools to review firms’ documents, accelerate routine casework and…
Sanctions
US Fines Bank of America $1.2 Billion, Alleging AML and Sanctions Violations
Three federal agencies have imposed penalties totaling more than $1.21 billion on Bank of America, alleging that the bank violated anti-money laundering and sanctions laws, according to a Tuesday (Oct. 13) press…
Digital Assets: The Changing Talent Picture
Banks investing in digital money need more than the technology to issue, custody or move digital assets. They need people who can connect those capabilities to the systems and controls…
Kraken Expands Into the UAE After Clearing Dubai’s Final Regulatory Hurdle
Kraken is gearing up to launch its crypto services in the United Arab Emirates after receiving full market approval from Dubai’s Virtual Asset Regulatory Authority (VARA). The approval clears the…
IMF: Tokenized Stocks Show Demand for 24-Hour Trading, but Investor Safeguards Lag
Tokenized securities are demonstrating genuine investor demand for around-the-clock trading and fractional ownership, but the infrastructure needed to provide adequate liquidity, price stability and investor protections has yet to catch…
Artificial Intelligence
Microsoft President Argues AI Less Regulated Than Washing Machines
Microsoft’s president says artificial intelligence now faces less regulatory oversight than appliances and dairy products. This lack of oversight underscores the urgent need for global artificial intelligence (AI) regulation, Brad Smith said…
CFTC Wants to Redefine Swaps to Include Prediction Platforms
The Commodity Futures Trading Commission (CFTC) wants to define financial swaps to include event contracts based on sports, political, cultural and weather-related events. The regulator published a proposed rulemaking plan…
CFPB Adopts ‘Lighter Touch’ Bank Supervision Amid Funding Battle
Banks and other consumer lending institutions are finding it easier these days to score a passing grade from Consumer Financial Protection Bureau (CFPB) examiners amid an ongoing battle over the…
