- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-10-25T18:32:00
Federal banking regulators issued a long-promised framework that provides guidance on the safe and sound management of climate-related financial risks at large banks.
The Federal Reserve Board, Treasury Department’s Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation published the framework Tuesday for banks with more than $100 billion in assets.
The regulators said large banks are “likely to be affected” by both physical and transitional risks posed by climate change. Physical risks include climate change-induced weather events, such as floods, droughts, or other natural disasters. Transitional risks cover risks posed to banks as markets react to changes caused by climate change, like the increase in clean energy production or new climate-related regulation or laws that affect banks’ bottom lines.
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2023-12-28T16:28:00Z By Aaron Nicodemus
The New York State Department of Financial Services issued guidance to regulated banking and lending institutions on managing material financial and operational risks related to climate change.
2023-11-09T16:42:00Z By Aaron Nicodemus
A new report from KPMG predicted the banking and financial services industries will be hit with unprecedented regulatory intensity in 2024, with regulators expecting compliance deficiencies to be addressed more thoroughly and quicker than ever before.
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Uncertainty created by the Federal Deposit Insurance Corporation’s lack of clarity on risks posed by crypto assets has left member banks with the impression the agency wants banks to avoid them, according to a new report from the Office of Inspector General.
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The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
2025-04-21T12:00:00Z By Neil Hodge
The United Kingdom’s latest effort to encourage regulators to pare down rules to attract companies and investment as a way to stimulate the economy has received mixed reviews from lawyers.
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A federal judge has ruled that Google “willfully engaged in a series of anticompetitive acts” in the advertising technology industry, the latest antitrust setback in what could become a string of losses for tech companies.
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