Issues : Regulation
Regulators have begun sending letters to banks asking about their diversity self-assessments. Make sure your bank is prepared.
Project Catalyst is a program in which the CFPB works with fintech firms to encourage the development of new consumer-friendly products.
Industry observers think a Republican-controlled Congress and President Trump will weaken the Consumer Financial Protection Bureau, but not get rid of the Dodd-Frank Act.
IBM is now focusing Watson’s considerable talents on bank regulatory compliance.
Bank Director’s 2017 Bank M&A Survey finds bank executives and directors supporting Donald Trump, but less so than Mitt Romney in 2012.
Regulators could independently or collectively, clarify and expand their existing third-party risk management guidance.
Other countires have developed ’sandboxes’ to encourage and accelerate the development of new ideas and products for the financial services industry.
Changes in both a regulatory handbook and monetary penalties are worth noting.
The cost of compliance is excessive for many financial institutions and, for some, place their very survival into question.
If banks want to preserve their customer base and continue to grow, they will have to adapt to what’s happening in the financial technology space.