The Penny Is Out. Experts Weigh in on What It Means for Consumers
By Karen Bennett, Bankrate
After a run of more than 230 years, the U.S. is done producing the penny.
While some consumers are lamenting the loss, many are left wondering: Will there be any tangible impacts on the economy? Will the nickel become the new penny? We reached out to folks on both sides of the coin (pun intended) to answer these questions.
Read MoreFederal Reserve Releases New Guidance for Bank Oversight in Move Praised by Industry
By Christopher Rugaber and Ken Sweet, Associated Press
The Federal Reserve’s top banking regulator released new guidelines for the agency’s supervision of the financial system, earning praise from industry trade groups and criticism from her predecessor.
In a set of sweeping changes, the principles call for bank examiners to focus on material financial risks and to “not become distracted from this priority by devoting excessive attention to processes, procedures, and documentation.” The guidelines are set out in a memo originally distributed to Fed employees Oct. 29 but released Tuesday…
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Hot News in Creditor-Side Auto Financing: Rising Risks and Emerging Opportunities
By Daniel S. Wittenberg and Tanya N. Lewis, Snell & Wilmer
The auto finance industry is facing a turbulent period as economic pressures, regulatory scrutiny, and technological disruption converge.
For creditors—which include banks, credit unions, captive lenders, and finance companies—the current environment demands agility and risk management like never before. Here’s a look at the most pressing developments shaping creditor-side auto financing…
Read MoreTrump's CFTC, FDIC Picks Closer to Taking Over Agencies as They Advance in Senate
By Jesse Hamilton, CoinDesk
The Senate’s process is inching forward on a mass-confirmation that would include two nominations with major crypto implications.
Two key positions in U.S. crypto oversight are advancing this week in the Senate as the chamber sets up a list of dozens of nominees they’ll consider for confirmation all at once, including Mike Selig to be chairman of the Commodity Futures Trading Commission and Travis Hill as chairman of the Federal Deposit Insurance Corp…
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