Regulation/Compliance

JPMorganChase, Bank of America and Deutsche Bank likely violated federal anti-money-laundering laws in connection with the finances of notorious sex offender Jeffrey Epstein, according to a report by Democratic Sen. Ron Wyden.

The central bank banned two former bankers from the industry for misappropriating funds from elderly customers.

Christopher Peterson, a law professor at the University of Utah and former senior advisors at the Consumer Financial Protection Bureau, is the latest top hire for a Democratic state stepping up consumer protection.

Staffers from the Federal Reserve Board and reserve banks took 'several months' to update bank supervisory marks after issues were resolved, a recent inspector general report found.

At a House hearing last week, GOP lawmakers asked Russell Vought, the acting director of the Consumer Financial Protection Bureau, for advice on how to craft legislation to permanently change the CFPB's authority. The hearing highlighted a consensus among Republicans that administrative policy rollbacks are not enough.

The Supreme Court may have allowed the central bank to chart its own course on bank oversight for now, but discrepancies between two recent rulings set the stage for challenges.

The central bank failed to prevent critical economic information from falling into the hands of "foreign adversaries," according to a report from its inspector general.

A one-time chief lending officer for Heritage State Bank has been barred from the industry for signing off on mortgages backed by over-valued appraisals.

The ranking Democrat on the Senate Banking Committee pressed the Federal Reserve chair for details on a Bank of America dinner that Gov. Michelle Bowman attended.

The Federal Reserve's top regulator said banks should be left to decide their own best uses for emerging technologies.

A federal judge has put on hold a plan for mass layoffs at the Consumer Financial Protection Bureau until a new, permanent director is confirmed by the Senate. The judge's order ratifies an agreement on the issue between the CFPB and its union.

The Consumer Financial Protection Bureau is preparing to request information from credit-card issuers about their late fees. The renewed interest in late fees is a surprise, given the agency last year sided with the banking industry to kill a Biden-era rule that would have dropped the charges from $32 to $8.

A settlement with 46 states resolves allegations that Block's Cash App engaged in deceptive marketing and failed to maintain legally mandated fraud protections. The deal also requires Block to honor an agreement with the Consumer Financial Protection Bureau made in the final days of the Biden administration.

Sen. Elizabeth Warren, D-Mass., is asking President Trump's son Eric if he plans to refile a lawsuit against Capital One Financial for allegedly "debanking" hundreds of Trump Organization accounts. The letter follows President Trump's nomination of a Capital One executive to lead the Consumer Financial Protection Bureau.

The Federal Reserve issued a "prompt corrective action" enforcement action against Kansas-based Small Business Bank, the third enforcement action against the bank since 2023.

The high-cost lender wants a federal court to vacate a nine-figure judgment, claiming the Consumer Financial Protection Bureau acted in "bad faith" by abandoning a settlement agreement that would have sharply reduced the company's payment.

A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.

The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.

The nation's largest banks saw their aggregate capital levels decline the least since the stress testing regime was reformed in 2020. Even so, the Fed will keep stress capital buffers unchanged as it weighs structural changes to its annual capital test.

More than 20,000 consumers have seen their bank accounts abruptly terminated in recent months. Experts believe financial institutions are responding to the Trump administration's restrictionist immigration policies.