In a recent fireside chat with Aaron Klein, a senior fellow at the Brookings Institution, Martin Gruenberg, the outgoing Chair of the Federal Deposit Insurance Corporation (FDIC), expressed caution against complacency in financial regulation and emphasized the importance of strong supervision.
Financial systems around the world are evolving to address the mounting threats posed by climate change and nature loss, recognizing the cascade of effects that these environmental issues can have on economies and human populations. Climate change and nature loss can lead to extreme weather,
The Financial Conduct Authority (FCA) has published findings on how larger insurance firms approach Consumer Duty outcome monitoring, a critical component in safeguarding consumer interests. The information outlines both good and poor practices related to outcome monitoring, making it clear that
Michael Barr's unexpected resignation as Vice Chair for Supervision of the Federal Reserve has stirred significant conversations regarding the future of financial regulation in the United States. Barr's departure is set for February 28, 2024, and comes at a critical time when tensions
In an unexpected turn of events, Cross River Bank has decided to drop its high-profile lawsuit against Fiserv's First Data Merchant Services unit. The lawsuit was filed in the Eastern District of New York and centered around allegations that First Data attempted to evade contractual
In a recent disclosure, Discover, a major player in the credit card industry, revealed that the Securities and Exchange Commission (SEC) has raised concerns about its accounting practices. The issue centers around Discover's historical misclassification of certain credit card charges, a matter
