- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Image: Sen. Elizabeth Warren (D-Mass.) has once again teamed up with Sen. John McCain (R-Ariz.) and Angus King (I-Maine) to file legislation to restore and modernize the Glass-Steagall Act, separating traditional banks that hold federally insured savings accounts from financial institutions that offer higher-risk services. Details inside.
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There has been a lot of talk about modernizing the Glass-Steagall Act. Now, there may be a blueprint for doing it.
Banks can look forward to a 2016 with additional regulatory risk, with rules layered upon rules, heightened capital requirements, and cyber-security casting an ever-darkening shadow. Even political risk is a reason for concern; With a presidential race underway, calls for breaking up big banks, and reinstating the Glass-Steagall Act, are ...
Banks, credit card companies and other financial mainstays will be required to comply with new data privacy and retail account portability regulations under a sweeping rule issued Tuesday by the Consumer Financial Protection Bureau.
