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Barclays and Standard Chartered face pressure from investors at their AGMs to enhance financing for clean energy, with a coalition urging Barclays to set specific renewable power targets. Meanwhile, the CFPB is considering revisiting its open banking rule due to banks' concerns over liability for data breaches. In China, the central bank has announced monetary easing measures to support the economy, including lowering policy rates and reserve requirements. The OCC is seeking input on challenges faced by community banks in adopting digital banking solutions.
President Trump has nominated Michelle Bowman as the Federal Reserve's vice-chair for supervision, aiming for a more industry-friendly regulatory approach. Meanwhile, UBS has delayed its net zero target from 2025 to 2035 due to an expanded corporate real estate portfolio after acquiring Credit Suisse. Close Brothers reported a £104 million loss linked to a car finance scandal, while Santander plans to expand its US presence through a partnership with Verizon, offering bill credits for new high-yield savings accounts.
Several groups representing major banks, including JPMorgan and Goldman Sachs, have filed a lawsuit against the Federal Reserve in Ohio, claiming that the Fed's annual capital stress tests violate US law. The plaintiffs argue that the tests were adopted without proper administrative procedures and lack transparency, undermining their effectiveness in assessing bank resilience. They seek to ensure that capital requirements are established transparently and with public input, advocating for reforms to be implemented by 2026.
Rob Nichols
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
banks face pressure on clean energy targets and digital banking challenges
11:24 07.05.2025
Trump nominates Michelle Bowman as Fed vice-chair UBS delays net zero goal
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banks sue federal reserve over alleged violations in stress test procedures
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