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Banking Industry Compliance Trends to Watch in Nauru: A Growing Scrutiny on Financial Institutions

In 2024, US banking regulators are set to implement significant changes that will impact financial institutions of all sizes. The industry can expect a growing scrutiny on banks, fintech companies, payment processors, and big tech firms offering financial services.

Key Regulatory Changes to Watch in 2024

Capital Requirements

• Basel III international standards, known as the “Endgame,” will bring many smaller banks under stricter regulations traditionally reserved for larger institutions.
• Long-term debt requirements for large banking organizations will be put in place.

Consumer Protection and Supervision

• Regulators are likely to emphasize consumer protection, scrutinizing innovative products and services that may harm consumers.
• Banks’ third-party risk management programs, fintech partnerships, and the use of emerging technologies such as AI and DLT will come under increased regulatory scrutiny.

Shift in Regulatory Priorities

• The Federal Reserve has signaled an increased focus on untimely remediation of supervisory findings, expanding its reach beyond large banks to midsize regional institutions.
• Fintech companies can expect a more comprehensive regulatory framework.

What this Means for Banking Leaders

As regulatory priorities shift, banking leaders must analyze the impact of emerging trends on their business model and operational structures. Strategic regulatory management is key to navigating these changes effectively.

Preparing for 2024: Expert Insights from Deloitte

Deloitte experts are available to discuss how banks can integrate regulatory considerations into their strategy and keep pace with regulatory changes. To learn more about the banking industry compliance trends, check out Deloitte’s recently released 2024 banking and capital markets industry outlook.