Law and regulation

If the Federal Reserve doesn't maintain an active role, Wall Street megabanks could take over the payments system.

The CEO of a big-bank lobbying group recently said that the central bank may be on the verge of pulling a bait and switch on faster payments. But his comments glossed over a lot of the relevant history.

If the Federal Reserve doesn't maintain an active role, Wall Street megabanks could take over the payments system.

The Maryland bank has to show that it can once again overcome accusations of possible misdeeds — this time tied to a political corruption probe. And there may be other problems.

Lawmakers will hear from a credit union executive on cannabis banking while also considering issues such as the use of alternative data in underwriting.

The current overdraft rules could use some tweaks, but it should largely remain the same to protect consumers.

After FASB's decision to give most credit unions and banks extra time to prepare, lobbying groups are pushing for more.

Attempts to roll back a safeguard on derivatives would give megabanks a $40 billion windfall, putting taxpayers on the hook.

Credit unions could have an answer about when a new credit loss standard will take effect, while the National Credit Union Administration will hold its monthly board meeting this week.

Readers react to the Fed warming up to CRA reforms, criticize the Democratic presidential candidates, defend Pittsburgh as a megabank attraction and more.