Kate Berry

A 50% growth in losses from check fraud last year is pushing bankers in Illinois to ask regulators for a joint supervisory guidance and tougher enforcement of large banks' "know your customer" compliance.

The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.

The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.

Business trade groups are expected to prevail in getting an emergency stay to stop the Consumer Financial Protection Bureau's $8 late fee rule from going into effect on May 14. However, the lawsuit would still have many steps to go after such a decision.

Judge Mark T. Pittman sided with the Consumer Financial Protection Bureau in ordering the case be moved from Texas to the District of Columbia due to "forum shopping."

The Justice Department and the CFPB are increasingly relying on emails among employees that contain discriminatory comments to strengthen their hand in cases against lenders.

The American Bankers Association and U.S. Postal Inspection Service have launched a public awareness campaign on ways to protect checks sent in the mail.

A Texas judge ordered the U.S. Chamber of Commerce to explain why it sued the Consumer Financial Protection Bureau in Texas to halt the bureau's $8 credit card late fee rule after the bureau filed a motion accusing the trade group of "forum shopping."

A Texas judge has recused himself from a case that pits the largest credit card issuers against the Consumer Financial Protection Bureau and a rule that would eliminate $10 billion in late fees.

The Consumer Financial Protection Bureau claims trade groups have no jurisdiction to file a lawsuit in Texas to stop the bureau's $8 credit card late fee rule, saying the plaintiffs engaged in "forum-shopping" to seek the most favorable outcome.

The Congressional Budget Office put an estimate on the net government subsidy provided to the Federal Home Loan Bank System, including the so-called "implied guarantee," on bonds priced and sold to investors.

The lawsuit against the Consumer Financial Protection Bureau was filed just two days after the bureau finalized a rule to cut credit card late fees to $8 from $32.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.

The Consumer Financial Protection Bureau will release a final rule Tuesday that is expected to save consumers $10 billion a year in credit card late fees. The rule is part of a larger effort by the White House to crack down on illegal fees and price hikes that President Biden will address in the State of the Union.

Critics argue the Federal Home Loan Bank System earned record profits last year and should provide a public benefit commensurate with the perks to members.

The Consumer Financial Protection Bureau provided guidance about digital intermediaries and lead generators that accept payments to steer borrowers to financial products.

The Consumer Financial Protection Bureau said it was invoking a special authority to supervise entities that pose risks to consumers in taking on World Acceptance Corp.