Lalita Clozel

HSBC was fined $32.5 million for failing to comply with a 2011 consent order that directed the bank to revamp its mortgage servicing and foreclosure practices.

In addition to citing fears about loosening underwriting standards, cyber threats, and potential obsolescence, the OCC added sales practices as a source of significant risk to the banking industry in response to Wells Fargo's recent phony accounts scandal.

In addition to citing fears about loosening underwriting standards, cyber threats and potential obsolescence, the OCC added sales practices as a source of significant risk to the banking industry in response to Wells Fargo's recent phony-accounts scandal.

Both banks and fintech firms have a lot of questions about the Office of the Comptroller of the Currency's proposed new charter, including exactly how the agency will ensure nonbanks don't get a leg up on bank competitors.

The Office of the Comptroller of the Currency's decision to offer a special-purpose charter for fintech firms may entice more players than expected, including mortgage lenders and even some payday lending shops.

The debate over screen scraping has long pitted banks against fintech companies, but it has also recently captured the interest of another powerful interest group: Silicon Valley. That dynamic is set to make it one of the policy debates to watch closely in 2017, as companies like Google and Amazon are slowly starting to weigh in.

If companies like Amazon, Apple and Google enter in force the battle between banks and fintech firms over customers' personal data, it could tip the scales against the banking industry.

The New York Department of Financial Services has modified its cybersecurity rule after financial executives registered a number of complaints at a hearing in Albany last week.

The New York State Department of Financial Services has modified its cybersecurity rule after a strong pushback from bankers, including at a hearing in Albany last week.

The New York State Department of Financial Services has modified its cybersecurity rule after bankers registered complaints at a hearing in Albany last week.

The question of how and why Wells Fargo failed its living will test is an issue the bank needs to address soon as it faces another deadline to fix problems identified by regulators.

WASHINGTON – Due to its declining receivership responsibilities, the Federal Deposit Insurance Corp. said Tuesday that it will again reduce its operating budget for fiscal year 2017.

Industry observers worry that the Dodd-Frank Act's Title II — which gives the Federal Deposit Insurance Corp. authority to oversee the resolution of a complex financial institution — could be the first thing under fire when the Trump administration undertakes financial reform.

WASHINGTON – Federal regulators on Monday finalized a rule that lowers the barriers for banks to qualify for extended examination cycles

A week after the Office of the Comptroller of the Currency created a new federal charter for fintech firms, California's financial regulator is calling on other states to work together in making their licensing system more palatable to companies.

A week after the Office of the Comptroller of the Currency created a new federal charter for fintech firms, California's financial regulator is calling on other states to work together in making their licensing system more palatable to companies.

The Office of the Comptroller of the Currency faces a challenging task as it attempts to add financial inclusion requirements to its pending fintech charter without following the exact blueprint of the Community Reinvestment Act.

The Office of the Comptroller of the Currency's plan to offer a national charter for fintech firms immediately sparked a battle between consumer advocates and state regulators, who see it a dangerous move, and fintech firms and certain banks, which hailed it as the future.

Key details — like exactly how many regulations companies will face — remain to be worked out on the Office of the Comptroller of the Currency's new limited-purpose charter for fintech firms, leaving the industry divided on whether the charter is a good idea.

The Office of the Comptroller of the Currency will start granting limited-purpose bank charters to fintech companies, but intends to maintain high standards for new entrants.