Kate Berry

The consumer bureau asked for public feedback about payment platforms as part of a focus on the Silicon Valley giants’ financial services aspirations. But comment letters so far have been dominated by users complaining that they lost money on the big-bank-owned peer-to-peer network.

Sandra Thompson has won praise from homeownership advocates for suspending a fee imposed on borrowers that was meant to recoup Fannie Mae and Freddie Mac's pandemic-related losses, among other actions she reversed. On Tuesday, President Biden said he will nominate her to be the permanent director of the Federal Housing Finance Agency.

If the Democratic majority on the Federal Deposit Insurance Corp.’s board succeeds in advancing a review of bank merger policy — over the disapproval of Chair Jelena McWilliams — progressive regulators could be emboldened to push for more substantive reforms.

The banking industry, which often questions aggressive moves by the agency, urged the Consumer Financial Protection Bureau to level the regulatory playing field between the financial and technology sectors.

Rohit Chopra, director of the Consumer Financial Protection Bureau, pledged to make it easier for state attorneys general to draw on the Consumer Financial Protection Act in filing lawsuits against corporate wrongdoers.

In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.

The guessing game is over about President Biden’s pick for Federal Reserve chair, but several names are in the mix for three additional vacancies on the board, including vice chair for supervision.

Rohit Chopra, the new director of the Consumer Financial Protection Bureau, announced enhanced monitoring of overdraft programs and said the agency plans to crack down on executives responsible for conduct that violates consumer laws.

The Consumer Financial Protection Bureau’s new director, Rohit Chopra, has settled a lawsuit that said a task force assembled by his Republican predecessor was illegal. Here's what it means for his ability to advance a more pro-consumer agenda.

The White House is considering nominating Richard Cordray, who led the Consumer Financial Protection Bureau from 2013 to 2017, as the Federal Reserve's next vice chairman of supervision, according to a report in The Wall Street Journal.

After Democrats failed last year to rally support for a federal 36% limit, House and Senate proponents are trying to capitalize on the momentum from state rate caps that recently passed on a bipartisan basis.

The consumer bureau is asking for comment on whether the rule implementing the Home Mortgage Disclosure Act is meeting its stated goals of detecting discrimination in mortgage lending.

Graham Steele, a strong proponent of safeguarding the financial system against climate risks, was approved by a 53-42 vote as assistant secretary for financial institutions at the Treasury Department.

The bureau’s new director named former Obama administration officials Lorelei Salas and Eric Halperin, respectively, as the heads of supervision policy and enforcement.

Some big tech firms “have sought to gain greater control over the flow of money in our economy,” Consumer Financial Protection Bureau Director Rohit Chopra told senators. His comments came after the agency demanded information from large tech companies about their payment offerings.

Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

The recent order by Director Rohit Chopra — issued just days after he was sworn in — demanding that Amazon, Facebook and others hand over information about their payments products is being interpreted as a sign that the consumer bureau wants to take a more active role in regulating the tech giants.

Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.

Eric Halperin, a longtime consumer advocate, is the first big hire by the new director of the Consumer Financial Protection Bureau.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.