Weekly Regulatory Deadlines | June 12 to June 18
Why Retail Banking Needs a Reputation Rehab
Most consumers probably don’t have strong opinions about their banks, since the relationship tends to be more transactional than emotional. However, in the 2019 Retail Banking Report, a study by Reputation.com that analyzed online data relating to retail banking locations for 23 major U.S. banks, the banking industry was found to be lacking...
Facebook's Libra Wanders Into the Bitcoin Bear Trap
Facebook Inc. on Tuesday launched its ambitious new cryptocurrency, which targets 2.6 billion users and is backed by up to $1 billion in funds. For the blockchain faithful, there was plenty of the usual stuff you see in these kinds of projects: A white paper, a nonprofit consortium to govern the digital coins, geeky technical details on how transactions will be validated, and the promise of open-source code...
CFPB chief's equal-opportunity calendar
American Banker 06/17/2019
In her first four and a half months on the job, Consumer Financial Protection Bureau Director Kathy Kraninger was no stranger to Capitol Hill, holding in-person meetings with lawmakers more than twice as often as her predecessor did during a similar time frame...
Crypto Trading Co. Ran $147M Ponzi Scheme, CFTC Says
A U.K.-based company that claimed to provide customers with guaranteed profits through cryptocurrency trading stole over 22,858 bitcoins in a Ponzi scheme-like fraud worth more than $147 million, the Commodities Futures Trading Commission alleged...
San Francisco Fed Wants to Reward Banks for Combating Climate Change
The Wall Street Journal 06/17/2019
The Federal Reserve Bank of San Francisco wants banks to get extra credit for making loans that help communities adapt to climate change and prepare for future natural disasters...