Laurel Loomis Rimon’s Post

In our latest look at the CFPB’s expanding supervisory authority of fintechs and other non-bank financial service providers, RegFi cohosts Jeremiah Buckley and Sasha Leonhardt welcome fellow Orrick partner — and former deputy general counsel for the CFPB — John Coleman. John shares his insights on the Bureau’s first of its kind decision to publicly announce its intention to assert supervisory authority over an individual institution, what companies can do to prepare for regulatory examinations, and how financial regulators might leverage technology to transform the supervisory process. Listen now: https://bit.ly/RegFiEp29 #CFPB #fintech #financialservices #finreg

New FedFin report looks at the FDIC’s request for deposit data. This isn’t an academic inquiry – it’s setting the stage for higher DIF premiums, other actions. But, because it’s voluntary, the data are sure to be untrustworthy. #DIF, #banks, #depositdata, #depositcomposition

New FedFin report looks at the FDIC’s brokered-deposit proposal. It’s tough, but it’s even tougher when put in context – think also capital pressures, higher rates, tougher supervision. Lots more banks won’t just be reporting lots more brokered deposits, they also won’t be able to gather any. Banks relying on sweep accounts, even from affiliates, could be hit extra hard.  #brokereddeposit #banks #FDIC

Exciting news! McGovern Weems LLC is proud to announce our collaboration with two top-tier defi protocols, offering in-depth guidance on the Bank Secrecy Act and its associated regulations and guidance. This vital project is spearheaded by our experts, Wade Weems, Benjamin Sauter and Jonah Levavi Discover more about our innovative approach and expertise in defi regulation. #DefiCompliance #BankSecrecyActExperts #McGovernWeemsInsight

OK all of you banking experts. Who can explain the dramatic change in which sized banks now have the highest and lowest cost of funding earning assets? There is nothing trivial about this data. What is the explanation? What say you Jeff Marsico, Steve Wofford, Dale Sheller, Ryan Hayhurst, Omar A. Hinojosa, CFA, Christopher Nelson, CFA, Chris Nichols, Dave McNab CPA, CA, Glenn Grossman, Ron Shevlin, John Marshall, Steve M. Wyett, CFA, Matthew I. Walter, MBA, CFA, CTP, scott hein, Tommy Esposito, John Toohig. The graphic taken directly from the FDIC Quarterly Profile data. You can find it by selecting the tab labeled "AVGFUNDEXPENSE" at https://lnkd.in/gMyRG4tV

New York Community Bank ($NYCB): The former Head of the OCC, the top bank regulator, is now running NYCB.  The former Treasury Sec'y (Mnuchin) is an investor.  It's hard to see how NYCB blows up now.  What I want to know… 1) Is the entity that invested a PE firm or a Bank Holding Company? It looks like the former… If so, then, 2) What % of the bank does the investor group own? Bank Hold Co Act limits the amount a non-bank can own in a bank and does not allow a non-bank to 'control' a bank.  The CEO was replaced with Otting.  That indicates Control.  A good reporter should dig into this transaction.  The Bank Hold Co Act makes it extremely difficult for non-banks and PE firms to bail out banks.  How exactly did this transaction get done? (I have no position)

Despite what banks and major centralized players think, everyone deserves access to a fair playing field. That’s not possible in the current TradFi landscape, but it is possible thanks to #DeFi protocols like Liquid Loans: https://lnkd.in/dSVnT7_Y

You're warned to move your funds off banks Then convert them into the new QFS digital assets backed by silver and gold (XLM and XRP) Which will be the master currency ruling the world of banking in the new awakening inbox Patino Monica for more guidance on what to do. all banks are crashing soonest. #qfs

good afternoon.... looking for a receiver in barclays bank with a good bo... who can do this... pay attention to the instructions L2L interbank transaction. Converted as commercial cash and funds are in Barclays on Ledger. Bank traded 4x twice. All face values are in same ledger in Barclays. Will forward you current screen (if there is a Receiver who can actually perform). If your group can go on Barclays system and locate the funds in Ledger, GET US SCREENSHOT (PROOF), then we sign DOA and give you permission. Ratios: ----- Final/Release code will be given later... Let Receiver locate and send screenshot proof first, asap. *Additional info* 👇 The fund is lying there in ledger, open-end. Receiver can download it and Sender will give him new codes. Receiver can download the whole (Payment can even be made via Crypto Host, if possible for the Receiver.) The fund right now is on open-end, in ledger in barclays. Receiver can download it with fixed window-time between Sender and Receiver. Then after download, Sender will give authorization and final code... 1. Once the DOA and PGL has been signed, your operator/technician will give window-time. 2. I will also give fresh screen with fresh code. 3. We will try to match our time for operation. 4. We will be present in zoom to monitor the operation (if the Receiver wants and is ok with it). the Fund-Owner/Sender (i.e. same gentleman in the CIS/Passport) will be online with them... He will be there on video-call. No issue.

The Scanner: CFPB Credit-Report Revamp Targeted as Soon as Next Month, CFPB says BNPL Firms Must Comply with U.S. Credit Card Laws, and FDIC Chair Gruenberg will Step Down once Successor is Announced, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02yb6_x0 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner