Banking
Banks, lenders, credit, regulation, and financial stability.
Flagstar extends Joseph Otting's term as CEO
Flagstar Bank said on May 18 that it extended Joseph Otting's CEO employment agreement through March 2028 and added several executive leadership updates.
SSA says Direct Express is moving to Fifth Third Bank as financial agent
The Social Security Administration says Treasury has selected Fifth Third Bank as the new financial agent for Direct Express. SSA says new enrollments begin in May 2026 and the transition for existing customers starts in summer 2026.
FCA, Bank of England, and PRA seek input on tokenisation in UK wholesale markets
UK regulators have launched a joint call for input on tokenisation in wholesale markets, alongside related Bank of England settlement-hours work and PRA guidance on tokenised asset exposures.
Hong Kong Monetary Authority issues scam alert related to banks
The Hong Kong Monetary Authority issued a scam alert on May 18 warning about bank-related fraud schemes using fake websites, login screens, phishing emails and instant messages.
Fed Holds Rates as Dissent Rises, Complicating Bank of Korea’s Next Move
The Federal Reserve held rates unchanged on April 29, 2026, but four dissents sharpened the policy divide just as the Bank of Korea weighs its next move.
Bank of England holds rates at 3.75% and warns inflation will stay elevated
The Bank of England held Bank Rate at 3.75% on April 30, 2026, and warned that higher inflation is likely in the near term because of energy-price shocks linked to conflict in the Middle East.
Bank of England holds rates unchanged at 3.75%
The Bank of England kept Bank Rate at 3.75% on April 30 as officials weighed rising inflation risks and geopolitical uncertainty.
JPMorgan CEO says not worried about inflation, warns stagflation remains a risk
Jamie Dimon said he is not worried about inflation, but he still sees stagflation and other risks as potential drivers of higher prices.
FinCEN proposes overhaul of financial institution AML/CFT programs
FinCEN has proposed a new rule to fundamentally reform AML/CFT programs for financial institutions and withdraw its 2024 proposal.
FDIC, OCC and NCUA seek comment on new AML/CFT program rule
The FDIC, OCC and NCUA have requested comment on a proposed AML/CFT program rule tied to FinCEN’s concurrent reform effort.
FDIC and OCC issue final rule removing 'reputation risk' from supervision
The FDIC and OCC have issued a final rule removing reputation risk from supervision and replacing earlier guidance with binding text.
FCA warning list adds new unauthorised firms and clone alerts
The FCA has updated its warning list with a new unauthorised firm and several clone or unauthorised-firm alerts.
FDIC approves proposal to implement GENIUS Act requirements for stablecoin issuers
The FDIC approved a proposal to implement GENIUS Act requirements for stablecoin issuers it supervises, including reserve, redemption and capital rules.
FDIC approves stablecoin, AML, and reputation-risk rulemaking at April 7 board meeting
The FDIC Board approved a package of rulemaking that includes a stablecoin proposal, AML/CFT changes and a final rule on reputation risk.
FDIC board schedules open meeting on stablecoin, AML, and reputation-risk rules
The FDIC Board approved a package that includes a stablecoin rule proposal, AML/CFT changes and a final rule to remove reputation risk from supervision.