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The Federal Reserve Board Thursday finalized changes to rules governing the calculation of interest payments on excess cash reserves held at regional Fed banks, a technical change aimed at easing the inevitable rise in federal interest rates in the future.

JPMorgan investment banker Jimmy Lee was widely eulogized as a legendary networker and bright spirit this week, but American Banker also remembers him as a builder and defender of the hotly debated universal-banking model.

The Consumer Financial Protection Bureau has fined a medical debt collector and ordered the company to provide financial relief to consumers for mishandling credit-reporting disputes.

Wells Fargo has named Hope Hardison chief administrative officer, succeeding a 38-year company veteran.

The insurance provider said that it is not eligible for designation as a Systemically Important Financial Institution because it is not primarily a financial company, and even if it were, FSOC wrongly used the firm's size alone to subject it to heightened regulation.

A technical error made by the Consumer Financial Protection Bureau has become a saving grace for lenders who had pushed, begged and pleaded for more time to comply with a new mortgage disclosure rule.

The banking industry, which wanted curbs on costly lawsuits over unwanted robo-calls to consumers, was dealt a rebuke Thursday by the Federal Communications Commission.

It turns out the Consumer Financial Protection Bureau's failure to file a two-page form to Congress on time was the unspecified "administrative error" that delayed the effective date for new mortgage disclosure rules.

In what would be the first comprehensive rewrite of its member business lending regulation since 2003, the NCUA Board unanimously approved a proposed series of changes that would make it markedly easier for CUs to lend to businesses.

The Federal Communications Commission rejected requests by banks and other companies that would have curbed lawsuits over unwanted phone calls to consumers.