The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers.
Hackers linked to the Iranian government launched a series of cyber-attacks on U.S. financial institutions including Bank of America Corp. and the New York Stock Exchange, federal prosecutors say.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Bank of America Corp.'s Merrill Lynch unit must face a group lawsuit by union and public employee retirement funds over mortgage-backed securities, a federal judge ruled.
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California has picked TIAA-CREF to manage its college savings plan that has about $4 billion of assets.
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Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains.
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JPMorgan Chase ends business loan partnership with OnDeck; Truist out to prove it can best the megabanks in tech; Capital One's data breach was bad, but it could've been worse; and more from this week's most-read stories.
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The regulators have yet to complete rules on regional bank supervision, community bank capital and other provisions meant to ease institutions' burden.
The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.
The San Francisco bank announced Monday that it has shed its fifth regulatory order this year — this one related to loss mitigation practices in its home lending business.
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Government-operated payment systems aren't necessary and reduce choice, competition, innovation and value for consumers, businesses and banks.
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The high court's inevitable decision on the constitutionality of the Consumer Financial Protection Bureau's funding structure will tell us a lot about how radical the court is willing to be.
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Even the newest technological innovation cannot beat personal interactions when it comes to forging a deep and meaningful association with clients, which typically lasts for years.
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The megabank is cooperating with a government request for information related to how it decides which customers to bank. It is the second large U.S. bank — along with Bank of America — to disclose such a probe.
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The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.
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Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.
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The ICBA opposed Coinbase's filing for a trust charter in a public letter as Comptroller Jonathan Gould defended the fintech charter process on Tuesday.
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After more than a quarter-century as a regulator, Jason Sisack had planned to enjoy some time off before taking a new job. He reversed course once Carver, which is operating under an enforcement action, approached him.
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Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
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Park National Corp's $317 million, all-stock deal for First Citizens Bancshares would give the buyer a presence in markets that are expected to grow faster than its legacy Ohio footprint.
Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
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