bank regulation News

New York Challenges Federal Ruling Allowing Fintechs to Skirt State Regulation

New York state’s top banking regulator on Friday sued the U.S. Office of the Comptroller of the Currency, seeking to void its decision to begin granting national bank charters to financial technology companies. Maria Vullo, the superintendent of the New …

Deputy Treasurer Nominee Says Bank Regulations Not Right for Insurers

President Barack Obama’s nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same capital rules as banks. “A one-size-fits-all approach is not going to work …

EU Proposes Cross-Border Bank Rescues

European Union countries could be obliged to bail out one another’s struggling banks, according to a draft EU law that marks a big step towards greater EU financial integration likely to upset some members, particularly Germany. Spain’s banking troubles and …