Ian McKendry

The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said.

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

Senate lawmakers will soon introduce a bill that could more than quadruple the current $50 billion threshold to be considered a systemically important bank, National Economic Council Director Gary Cohn said Monday.

Minorities are more likely to turn to a financial technology firm than a bank when seeking a business loan, but they may pay higher interest rates, according to the preliminary results of a congressional investigation released Monday.

The bills were individual pieces of the larger Financial Choice Act, including measures to raise the systemic threshold for banks and raise the threshold for banks subject to CFPB supervision.

The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.

For all the anticipation that preceded the Consumer Financial Protection Bureau's final small-dollar lending rule, a picture of how the rule will affect banks and credit unions is still quite hazy.

The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product.

Randal Quarles was confirmed 65-32 as a Fed governor, and by voice vote as the vice chairman of banking supervision.

The Senate invoked cloture to begin the process of confirming Randal Quarles as a governor on the Fed board.