Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said that the agency will continue to consider its rising assessment rates even as deposits fell in the second quarter
Federal Reserve Chair Jerome Powell's speech in Jackson Hole reaffirmed that the end of accommodative monetary policy is coming to an end. This is a boon to banks, but only those that have managed their balance sheets just right.
The agency issued an interpretive rule earlier this month that said digital marketers must comply with federal consumer financial protection law. Banks will need to double down on compliance when engaging with these companies.
As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge.
The move is the latest development in the ongoing political clash over how involved banks should be in crypto markets.
On a combined basis, the GSEs performed better under this year's scenario than they did in 2021, but the Federal Housing Finance Agency said changes were still needed.
The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.
The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation.
The Federal Reserve released its large bank requirements for 2023 based on the results from this year's stress test. Most of the banks tested will need to maintain or increase their tier one capital holdings.
The Consumer Financial Protection Bureau is investigating some of the bank's credit card practices, including refunds, billing errors and credit bureau reporting, according to a securities filing Thursday.
Fed Chairman Jerome Powell brushed off concerns that rapidly tightening monetary policy could disrupt the financial system. Some economists and policy experts beg to differ, raising concerns about loan defaults or even the collapse of a key institution or counterparty.
The allegations against the $559 billion-asset bank are similar to those brought against Wells Fargo related to its 2016 fake-accounts scandal.
The Consumer Financial Protection Bureau said “time is running out” for military student loan borrowers to obtain debt relief under the Public Service Loan Forgiveness program.
The bureau has dragged its feet for years in moving forward with the rule primarily because of the potential impact on credit availability for millions of small businesses.
This year’s stress-test results show large banks have more than enough capital to deal with a major economic crisis, but their capital requirements will likely go up anyway. That has some observers and industry officials concerned credit will tighten even as the economy teeters on the edge of recession.
The Consumer Financial Protection Bureau’s unified agenda was quietly released this week, and it shows that rules on consumer access to financial records and small-business data collection are top priorities.
The director of the Consumer Financial Protection Bureau said he plans to take a fresh look at the Qualified Mortgage rule, the CARD Act and other long-standing rules.
The two regional banks announced plans to abandon nonsufficient fund fees and make other moves that will reduce the revenue they collect from cash-strapped consumers.
Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.”
In a 5-4 Supreme Court decision two years ago, the bureau’s rulemakings survived intact. But a pair of pending cases that challenge the agency's funding through the Federal Reserve are again seeking to invalidate every action the CFPB has taken since 2010.
Couldn’t load more articles. Try again.
