Trump team seek ways to slim or abolish banking regulators: WSJ
Trump’s team is asking whether the president-elect could nix financial industry regulators or combine them together, according to a Wall Street Journal report. Go to Source
FDIC
Auto Added by WPeMatico
Judge slams FDIC’s ‘lack of good-faith’ in censoring crypto letters to banks
A US federal judge has ordered the FDIC to redo and resubmit redactions it made to crypto “pause letters” it sent to financial institutions. Go to Source
House lawmakers propose studies on AI in financial services, housing
AI is already impacting mortgage lending and how credit scoring is calculated, US Representative Maxine Waters said as she introduced a new bill in Congress. Go to Source
Crypto use more common among the underbanked, says FDIC report
Last year, underbanked households more commonly used crypto than those with no banking access whatsoever, according to an FDIC survey. Go to Source
Blockchain Association calls for SEC leadership shift amid ‘shameful’ FDIC reveal: Law Decoded
The Blockchain Association and Coinbase spotlight SEC and FDIC actions, revealing significant financial burdens on crypto firms. Go to Source
Coinbase finds over ’20 examples’ of FDIC telling banks to avoid crypto
Coinbase’s chief legal officer declares that the “contents are a shameful example of a government agency trying to cut off financial access to law-abiding American companies.” Go to Source
Biden admin deliberately killed off Silvergate to ‘decapitate’ crypto: Nic Carter
The now-bankrupt Silvergate Bank was forced to cap its crypto deposits at 15% under threat of being shut down by US regulators, claims to Castle Island Ventures partner Nic Carter. Go to Source
Lawmakers Question SEC Over Disruptive Crypto Custody Rules
Congressional leaders are pressing regulators over concerns that the U.S. Securities and Exchange Commission (SEC)’s new guidelines on digital asset custody could disrupt financial innovation and regulatory collaboration. Lawmakers question whether the SEC acted prematurely, potentially jeopardizing efforts to safeguard digital assets through coordinated agency work. They demand more transparency on the SEC’s actions and … Read more
Federal Reserve Fines Citigroup $60.6 Million for Ongoing Risk Management Deficiencies
The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress in addressing deficiencies identified in a 2020 order. Citigroup Faces $60.6 Million Fine from Federal Reserve for Risk Management Shortcomings In a recent examination, the … Read more
Coinbase Sues SEC, FDIC for Transparency on Crypto Regulations
Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and Federal Deposit Insurance Corporation (FDIC) to obtain documents on their approaches to cryptocurrency regulation. Coinbase’s chief legal officer highlighted the lack of clear guidelines from the SEC and the FDIC’s pressure on financial institutions. The crypto exchange’s Freedom of Information Act … Read more
