Fed's climate stress test for big banks; mock cyberwar; net interest margin

A half dozen of the largest banks in the country will participate in the Federal Reserve Board 's climate scenario analysis exercise next year. Findings from the program will inform supervision policies on managing climate and transition risks: Fed taps six big banks for climate stress test pilot.

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Here's some more of what we're covering today:

Judge reverses Trump-era HMDA rule, forcing small mortgage lenders to comply: A federal judge found that the Consumer Financial Protection Bureau overstated the costs and understated the negative impact of 1,700 financial institutions not reporting Home Mortgage Disclosure Act data.

Deutsche Bank adds Visa's Cybersource ahead of buy now/pay later launch: 德意志银行 is looking to detect fraud in real time, a capability that it sees as a differentiator for merchants wanting to offer installment lending.

For community banks, net interest margin pressure looms large: Nearly nine out of 10 bankers surveyed by the Conference of State Bank Supervisors (CSBS) Supervisors ranked the specter of rising deposit costs and narrowing margins as their top concern.

As banks shutter branches, credit unions continue to build: U.S. banks closed almost 3,000 more branches than they opened last year, but the branch count at credit unions like Truliant Federal Credit Union crept up in the second quarter despite consumers' heavier reliance on digital channels for account management.

Banks set to do battle in mock cyberwar: FS-ISAC will test banks' cybersecurity defenses in "hyper-realistic" simulations of malware, phishing and ransomware attacks.