WASHINGTON — The 2024 election turned on its head this week, as a galvanized former President Donald Trump, bandaged ear from a failed assassination attempt, officially accepted the…
Read more What banks should take away from this week’s whirlwind political dramaFederal Reserve Gov. Adriana Kugler said private data is playing a bigger role in the central bank’s policy considerations.Federal Reserve Board of Governors Private data sources are playing…
Read more Private data has a bigger role in reading inflation, Fed official saysThe Supreme Court’s late June ruling on Loper Bright Enterprises vs. Raimondo reversed a 40-year-old legal doctrine. The new precedent is already being applied to active litigation involving…
Read more Chevron reversal could factor into Custodia appealMichael Barr, vice chair for supervision at the Federal Reserve, left, shakes hands with Martin Gruenberg, chair of the Federal Deposit Insurance Corp., following a Senate Banking Committee…
Read more Getting to yes: Reported Basel retooling may — or may not — have legsThe Treasury Department’s Financial Crimes Enforcement Network issued a proposed rule overhauling banks’ anti-money laundering and counterterrorism financing programs, requiring financial institutions to step up their existing AML controls…
Read more Fincen proposes tougher anti-money laundering standards in new ruleThe Thurgood Marshall United States Courthouse in New York. The number of lawsuits filed under the Fair Credit Reporting Act has spiked in recent years, often by defendants…
Read more Surge in credit report lawsuits has banks, credit agencies scramblingThe Federal Reserve Tuesday issued an enforcement action against Evansville, Ind.-based United Fidelity Bank and its parent companies over board management issues. The bank told local news that…
Read more Fed hits fast-growing community bank with enforcement actionFederal Reserve Chair Jerome Powell said during a Federal Open Market Committee press conference that the central bank must control inflation to keep the housing market from becoming…
Read more Is the Fed’s tough love approach to housing too tough?The House of Representatives is teeing up a cryptocurrency bill developed by the House Financial Services and Agriculture Committees that would delineate whether the Securities and Exchange Commission…
Read more GOP tees up crypto vote with hopes of Democratic supportDave Fishwick, founder of Burnley Savings and Loans in the UK and subject of the hit Netflix movie “Bank of Dave,” at an Independent Community Bankers of America…
Read more Dave Fishwick of ‘Bank of Dave,’ has a new nemesis: Payday lendersAn independent report released Tuesday detailed a pervasive culture of sexual harassment and workplace discrimination at the Federal Deposit Insurance Corp. FDIC chair Martin Gruenberg said he will…
Read more FDIC workplace probe outlines pervasive culture of misconductCustodia Bank will appeal the district court ruling against it in its lawsuit against the Federal Reserve. Nedrofly – stock.adobe.com Custodia Bank will appeal the district court decision…
Read more Custodia to appeal ruling in Fed lawsuitThe Federal Reserve Board of Governors has created a new supervisory team specifically to oversee novel activities.Stefani Reynolds/Bloomberg Federal regulators have taken a sharper look at bank partnerships…
Read more Fintech partner banks facing ‘volatile mix’ of supervisory scrutinySenator Tim Scott, R-S.C., who serves as ranking member of the Senate Banking Committee, introduced a Congressional Review Act resolution Monday that would undo the Consumer Financial Protection…
Read more Scott introduces measure to overturn CFPB late fee ruleA Texas Judge dealt a blow to the credit card industry by moving litigation challenging the Consumer Financial Protection Bureau’s $8 credit card late fee rule to the…
Read more Texas judge moves CFPB’s $8 credit card late fee case to DCThe Federal Deposit Insurance Corp.’s Office of the Inspector General says that Sac City, Iowa-based Citizens Bank failed last year due to poor risk management and an overreliance…
Read more FDIC OIG says lax lending, poor risk management led to Iowa bank failureMichael Barr, Federal Reserve vice chair for supervision, said he is working with other Fed officials to reach consensus on the best path forward for their proposed capital…
Read more Fed’s Barr working with Powell to find consensus on Basel IIITreasury Secretary and Financial Stability Oversight Council Chair Janet Yellen speaks with Federal Reserve Vice Chair for Supervision Michael Barr and Securities and Exchange Commission Chair Gary Gensler…
Read more Regulators are taking on nonbanks — a little bit at a timeThe March 2023 banking crisis will be remembered for three major bank failures, the demise of a fourth bank tied to cryptocurrency and more than $35.5 billion in…
Read more Federal Home Loan banks’ profits skyrocket from 2023 liquidity crisis“The CFPB will be accelerating its efforts to ensure that consumers can access better rates that can save families billions of dollars per year,” Rohit Chopra, the agency’s…
Read more Big banks charge higher credit card APRs than smaller issuers, CFPB says
