Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.
China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.
The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.
It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce.
Lawmakers may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.
The Massachusetts company hired banking veteran Mark Thompson, who recently scrapped an effort to buy a struggling bank in Boston, as its bank president.
Former ChairmanCommodity Futures Trading Commission
Some proponents of repealing crisis-era regulatory reforms argue that higher capital levels offer better protection. More capital is good, but it alone won’t solve every problem.
Equifax's data breach may be the most serious, given that it covered 143 million consumers and involved reams of confidential information, but it wasn't the largest. Following are the biggest to date.
Former Chairman
Commodity Futures Trading Commission
Some proponents of repealing crisis-era regulatory reforms argue that higher capital levels offer better protection. More capital is good, but it alone won’t solve every problem.
Counsel
House Subcommittee on Regulatory Reform, Commercial and Antitrust Law
A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.
Professor of City Planning
University of Pennsylvania
Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years.
Index points to steady if slightly slower growth in the month. A key question: Do readings in delinquencies and loan rejections point to a turn in consumer credit?
Post-election exuberance about the prospects for rollback of Dodd-Frank regulations has been tempered by the political realities facing the President and Congress.
