Kate Berry

The disclosure of a key part of Wells Fargo's exam rating is fueling speculation that further regulatory action may soon be taken against the megabank and raising renewed questions about its regulator's oversight.

After a significant setback this week in the legal bid to unseat Mick Mulvaney as acting director of the Consumer Financial Protection Bureau, consumer groups are pinning their hopes on a second case they hope will provide a different result.

U.S. District Judge Timothy J. Kelly on Wednesday said CFPB Deputy Director Leandra English's case was unlikely to succeed on the merits and did not demonstrate irreparable harm.

Keith Noreika, who made waves during his brief stint as acting Comptroller of the Currency, has rejoined Simpson Thacher Bartlett as a partner.

Kirsten Sutton Mork, the House Financial Services Committee's staff director, will become chief of staff at the Consumer Financial Protection Bureau.

Sen. Ron Johnson, R-Wis., has called for an investigation into how CFPB Deputy Director Leandra English was approved for a permanent civil service job at the agency.

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.

The tax law is expected to eliminate 300,000 affordable housing units over 10 years in part because it will reduce the value of banks’ low-income tax credits, which finance half of all affordable housing units.

The Office of the Comptroller of the Currency said Tuesday that Norman Williams will oversee the three research and analysis divisions that assess financial and economic risks to banks.

If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.

Credit card debt hit $807 billion in the fourth quarter of 2016, with consumer balances on average exceeding $4,800, according to a report released by the Consumer Financial Protection Bureau.

The information you need to start your day, from PaymentsSource and around the Web: Alexa and Apple surge in new users; CFPB reports rise in outstanding card debt; and more.

Credit card debt hit $807 billion in the fourth quarter of 2016, with consumer balances on average exceeding $4,800, according to a report released by the Consumer Financial Protection Bureau.

The Consumer Financial Protection Bureau on Wednesday launched a rate spread calculator and validation tool for financial companies reporting Home Mortgage Disclosure Act data starting Jan. 1.

Banks reported $6.4 billion in trading revenue in the third quarter, down 3.6% from the previous quarter, on falling interest rate and foreign exchange revenue, the Office of the Comptroller of the Currency said.

The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday.

The information you need to start your day, from PaymentsSource and around the Web: CFPB's postponement for prepaid; Walmart tests cashierless stores; face ID for food; and more.

Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped.

The Consumer Financial Protection Bureau said Thursday that it plans to reopen its rulemaking for the Home Mortgage Disclosure Act and will not assess penalties against mortgage lenders for any errors in data collected in 2018.

The Trump administration and acting Consumer Financial Protection Bureau chief Mick Mulvaney won round one in a legal battle challenging Mulvaney's leadership. His critics will have a tall order trying to win round two.