Okla. bank fires back at DOJ after redlining deal; long-term debt plans

Bank accused of redlining says DOJ unfairly linked it to a race atrocity: The Department of Justice cited American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.

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Bowman, Waller voice concerns about Fed's long-term debt proposal: The Federal Reserve Board governors say they're worried about the added cost of the new requirement for non-systemically important banks as well as the implications for regulatory tailoring.

Banks face stricter long-term debt, living-will mandates under FDIC plan: The Federal Deposit Insurance Corp. has issued proposals that would make banks with $100 billion of assets or more hold more long-term debt as a cost buffer in the event of a collapse and meet new planning requirements in case they ever have to be resolved in an emergency.

Clock ticking for regulators to Congressional Review Act-proof new rules: The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency have until mid-2024 to finalize bank rules without risking a CRA nullification if Republicans run the table in 2024.

BMO, Mastercard bring virtual cards into the physical world: The card network is working with the Bank of Montreal and the fintech Extend to enable businesses to approve and track in-store payments via employees' own digital wallets.

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