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In a joint review published Friday, the Federal Reserve and Federal Deposit Insurance Corp. found problems with two foreign banks' bankruptcy resolution plans.

In a sprawling consent order, the Consumer Financial Protection Bureau order cited mismanagement that extended from auto loans to mortgages and deposit accounts. Wells Fargo CEO Charlie Scharf called the agreement a critical milestone to "put these issues behind us."

The National Credit Union Administration must justify its sharply higher operating budget for next year.

The addition of in-person and online sales tools helps the company market itself as an alternative to processors and merchant acquirers for small merchants.

Robert Fehlman, who has worked with the bank since 1988, will succeed George Makris Jr. at the start of 2023.

Legislation to open banking services to marijuana businesses was left out of a must-pass government funding package, ending a year-end effort to move it to President Biden's desk, a person familiar with the decision said.

Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.

The Senate voted to confirm Martin Gruenberg as chairman of the Federal Deposit Insurance Corp., Travis Hill as its vice chairman and Jonathan McKernan to join the agency's board.

The loans for self-employed borrowers are getting a fresh examination to determine if they fall within the Consumer Financial Protection Bureau's updated guidelines for qualified mortgages, which went into effect in October.

Dan Clarke succeeds Rachel Caron, who was CEO of the $256.4 million-asset organization for 12 years before retiring in June.