The Latest

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

The cryptocurrency lender Celsius Network filed for Chapter 11 bankruptcy, the latest casualty of a $2 trillion crash that has wiped out some of the industry’s biggest names and exposed hundreds of thousands of individual investors to steep losses.

Morgan Stanley said it expects to pay a $200 million fine related to a broad U.S. investigation into the use of unapproved personal devices.

Citigroup has won part of its appeal in a discrimination suit brought by a former banker who was laid off after being called “old” at the age of 55.

The buyback pause is meant to allow the bank to get to a 13.2% common equity Tier 1 ratio by next March, comfortably clearing a higher bar recently set by regulators. Meanwhile, net income fell 28% to $8.6 billion in the second quarter.

Consumers are feeling less confident about their economic prospects, and investors worry their loan repayments will slow. Those fears have led to large drops in stock prices for consumer finance companies, particularly for those who lend to borrowers with lower credit scores.

While larger lenders retreat from the sector, SouthWest Bank recruited a new team to lend to drillers.

The former Treasury official and University of Michigan administrator’s confirmation gives the Federal Reserve Board a full complement of seven governors for the first time in nearly a decade.

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.

Plaid co-founder William Hockey and his wife, Annie, have created a way to let clients co-develop programmable bank accounts.