Consumer Financial Protection Bureau Director Richard Cordray told House lawmakers on Wednesday that allegations of discrimination and retaliation among agency employees were due to its efforts to rapidly build itself up following its creation three years ago.
WASHINGTON Federal and state regulators announced a settlement Tuesday with Colfax Capital Corp. and its subsidiary over charges it "lured" 17,000 U.S. servicemembers into expensive loans with hidden charges and withheld information on billing statements.
WASHINGTON The Federal Deposit Insurance Corp. said Monday that it has withdrawn a list of merchant categories, including payday lenders, debt consolidation firms, pornography businesses and others, that it said warranted heightened attention by banks processing their transactions.
WASHINGTON Due to an improving jobs market and better credit conditions, homebuilder D.R. Horton, Inc. is betting the time is right to cater to the first-time homebuyer.
Castro takes helm as housing recovery continues to lag the rest of the economy.
Top lawmakers on the House Financial Services Committee debated the value of the Dodd-Frank Act in dueling reports on Monday, commemorating the financial reform law's fourth anniversary.
Under a measure passed Wednesday, the use of federal funds to punish banks for providing accounts to pot businesses would be prohibited.
A Senate Banking Committee hearing looked at whether some regional banks that meet the Dodd-Frank Act's "systemically important" threshold belong in the same group as global giants.
The push to expand banking services at the country's post offices continues to gain momentum, though numerous questions remain about the design and scope of such an effort.
WASHINGTON Banks across the country continued to see widespread signs of increased lending to consumers and businesses in the third quarter, according to a Federal Reserve report released Wednesday.
Federal Reserve Board Chair Janet Yellen on Wednesday defended the credibility of living will plans submitted by the country's largest banks, saying it was a complex but useful process.
The Federal Deposit Insurance Corp. has proposed tailoring its system for pricing banks' insurance premiums to correspond with new Basel capital requirements.
The FDIC, OCC and Federal Reserve all plan to testify Tuesday that banks, not their regulators, are ultimately responsible for deciding who is an appropriate customer.
Federal and state authorities on Monday sought to rein in three companies accused of exploiting consumers struggling to pay off their debts.
The Consumer Financial Protection Bureau says brokers will have to comply with compensation limits even if they are funding loans via a warehouse line of credit.