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The Consumer Financial Protection Bureau said in a policy statement that banks risk violating the prohibition on "unfair acts and practices," by reopening a consumer's deposit account to process transactions after the account has already been closed.
May 10
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Charlie, a digital banking service, will advance users their Social Security benefits and will try to act like a "smart, kind and trusted nephew."
May 10
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Interac launches ID verification, the U.K. cracks down on bitcoin ATMs, and more.
May 10
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Antiquated rules separating banking and commerce are preventing an infusion of capital that would revitalize the banking market.
May 10
Lumida Wealth Management -
The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.
May 9
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A recent Bank of America survey found many small businesses forecasting increased revenues and planning to add workers, but a canvass by Biz2Credit indicated they'll struggle to secure credit.
May 9
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Sens. Mark R. Warner, D-Va., and Mike Crapo, R-Idaho have reintroduced a bill that would deploy roughly $100 million in aid through the Community Development Financial Institution Fund to back pilot programs that would foster secondary markets for loan sales.
May 9
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The president of the Federal Reserve Bank of New York said the performance of office loans is a top supervisory issue, but not an immediate threat to financial stability.
May 9
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The attack on AvidXchange, which the company said it learned about in early April, exposed its bank account numbers and some embarrassing security practices. It's part of a growing trend of data exfiltration attacks.
May 9
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Sen. Elizabeth Warren, D-Mass., led a group of Democratic lawmakers in writing to executives of large credit card issuers on their late fee policies and costs.
May 9
