Latest Banking and credit regulation News

A pedestrian wearing a face mask to curb the spread of COVID-19 walks in front of the Greek parliament in central Athens, Tuesday, Oct. 20, 2020. Greece has been experiencing a resurgence of the virus, with the number of new daily cases, most in the Greek capital, often topping 400, and both deaths and the number of those in intensive care units rising. (AP Photo/Thanassis Stavrakis)

Greece: Insolvency overhaul during pandemic triggers spat

Oct. 23, 2020 9:51 AM EDT

ATHENS, Greece (AP) — The Greek government's opposition is trying to block new insolvency legislation that it argues would leave vulnerable mortgage holders more exposed to repossession during the pandemic. The conservative government is overhauling its bankruptcy regulations, replacing a protection...

FILE - In this June 15, 2015, file photo, a Saudi man walks through the Tadawul stock exchange in Riyadh, Saudi Arabia. Saudi Arabia's National Commercial Bank said Sunday, Oct. 11, 2020, it will purchase rival lender Samba Financial Group in a deal valued at $14.8 billion, creating what would become the kingdom's largest bank. (AP Photo/Hasan Jamali, File)

Saudi's National Commercial Bank buys Samba in $14.8B deal

Oct. 11, 2020 11:25 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi Arabia's National Commercial Bank said Sunday it will purchase rival lender Samba Financial Group in a deal valued at $14.8 billion, creating what would become the kingdom's largest bank. The bank will control some $223 billion in assets and a market capitalization...

Feds fine Citigroup $400 million over faulty risk management

Oct. 7, 2020 7:02 PM EDT

NEW YORK (AP) — Citigroup has agreed to pay a $400 million fine imposed by U.S. regulators for failing to shore up the bank's operations. The Office of the Comptroller of the Currency said Wednesday that the civil penalty is in response to shortcomings in the New York bank’s risk management,...

French President Emmanuel Macron delivers a speech to present his strategy to fight separatism, Friday Oct. 2, 2020 in Les Mureaux, outside Paris. President Emmanuel Macron, trying to rid France of what authorities say is a

France's Macron details plan targeting Islamist 'separatism'

Oct. 2, 2020 11:42 AM EDT

PARIS (AP) — President Emmanuel Macron, trying to rid France of what authorities call a “parallel society” of radical Muslims thriving outside the values of the nation, laid out a series of measures on Friday in a proposed law that would disrupt the education, finances and other means of...

This Monday, Oct. 7, 2019 file photo, Ohio Sen. Matt Dolan, left, speaks during a news conference at the Ohio Department of Public Safety in Columbus, Ohio. Dolan says, Thursday, Oct. 1, 2020,  an aid package for small businesses and people struggling to pay rent during the coronavirus pandemic is coming soon. (Joshua A. Bickel, The Columbus Dispatch via AP, File)

Governor, lawmakers plan aid for small businesses, renters

Oct. 1, 2020 4:10 PM EDT

COLUMBUS, Ohio (AP) — An aid package is coming soon for small businesses and people struggling to pay rent during the coronavirus pandemic, according to Ohio's GOP Senate finance chairman. Lawmakers and Gov. Mike DeWine are figuring out the best way to provide the money—from federal pandemic relief...

Connecticut House votes to give more time to process ballots

Sep. 30, 2020 9:38 PM EDT

HARTFORD, Conn. (AP) — Connecticut lawmakers voted Wednesday to give local election officials some extra time to begin processing the large numbers of absentee ballots that are expected to be filed for the Nov. 3 general election. The legislation, which cleared the House of Representatives on a 139-5 vote,...

Bill sent to Whitmer would lengthen bonds for dam repairs

Sep. 29, 2020 6:12 PM EDT

LANSING, Mich. (AP) — The Michigan Legislature on Tuesday finalized a bill that would lengthen the financing period of lake projects in the wake of flooding that damaged dams and drained lakes in the Midland area. The legislation would extend, from 10 years to 40 years, the maximum maturity date of bonds...

FILE - In this Aug. 27, 2018, file photo, a patched sign stands at the construction site for the Consumer Financial Protection Bureau's new headquarters in Washington. California created what supporters called its own nation-leading, state-level version of the federal Consumer Financial Protection Bureau after critics said the Trump administration significantly weakened national protections, Friday, Sept. 25, 2020. The legislation that Gov. Gavin Newsom signed into law changes the existing Department of Business Oversight into the Department of Financial Protection and Innovation in what proponents said is the first such move by any state. (AP Photo/Andrew Harnik, File)

California expands financial protections after US rollback

Sep. 25, 2020 6:58 PM EDT

SACRAMENTO, Calif. (AP) — California on Friday created what supporters call its own nation-leading, state-level version of the federal Consumer Financial Protection Bureau after critics said the Trump administration significantly weakened national protections. The legislation that Gov. Gavin Newsom signed...

Feds offer to help curb crime in Mississippi capital

Sep. 24, 2020 2:36 PM EDT

JACKSON, Miss. (AP) — Mississippi's capital city says it plans to work with the U.S. Department of Justice to help fight crime. Jackson City Council President Aaron Banks says U.S. Attorney Mike Hurst extended an offer to work with local law enforcement to reduce crime. Banks did not specify how Hurst...

Two men walk past a Westpac bank branch in Sydney, Thursday, Sept. 24, 2020. Westpac, Australia's second-largest bank, agreed to pay a 1.3 billion Australian dollar ($919 million) fine for breaches of anti-money laundering and counterterrorism financing laws, the largest ever civil penalty in Australia, a financial crime regulator said. (AP Photo/Rick Rycroft)

Australian bank agrees to $919M fine for money laundering

Sep. 23, 2020 8:56 PM EDT

CANBERRA, Australia (AP) — Westpac, Australia’s second-largest bank, agreed to pay a 1.3 billion Australian dollar ($919 million) fine for breaches of anti-money laundering and counterterrorism financing laws, the largest ever civil penalty in Australia, a financial crime regulator said on Thursday....