Many risk falling behind their peers or, worse, losing relevance because of failure to adopt the most modern technology tools, says Accenture.
“The current economic expansion is the second longest on record, and the nation’s banks are stronger as a result," said the FDIC chair.
The proposed law would significantly amend the Dodd-Frank Act and restore flexibility to financial institutions.
With Republicans in charge of the government, regulatory constraints on financial services firms may begin to relax.
The settlement with affected financial institutions brings Home Depot's total payouts related to the massive 2014 hack to around $180 million.
Whatever fate is in store for the Dodd-Frank Act, the systems financial institutions put in place to comply with the law should provide ongoing advantages.
The number of financial institutions on the FDIC’s “problem list” fell to the lowest level in more than seven years.
The measures include requiring financial institutions to identify the beneficial owners of companies opening accounts with them.
"You can't go around ... helping rig one of the most important markets in the world and not pay the price," a judge says.
Law-enforcement officials agree that the benefits of a virtual currency like Bitcoin outweigh the risks, but they also insist Bitcoin needs regulation.
