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Based on two new research reports, the CFPB will increase supervision of banks that are heavily reliant on overdraft fees and "will be taking action to restore meaningful competition to this market."

The Federal Financial Institutions Examination Council added one section and updated three sections along with their respective examination procedures in its Bank Secrecy Act / AML Examination Manual.

Nick Allen Commentary by Nick Allen

SIFMA, DTCC and the Investment Company Institute outlined their plans to shorten the settlement cycle for U.S.-issued securities. In a joint report, the organizations identified the end of Q2 in 2024 as the target date for completion.