Organization Root Tag

The probes come at the request of Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., respectively the ranking members of the Senate Banking and Senate Finance committees.

Consumer and employees groups are seeking a restraining order against CFPB acting Director Russell Vought, arguing that he was unlawfully installed and has "no power to direct" the bureau.

The rollout of new technologies in point-of-sale retail payments in the U.S. has historically been slow, and consumer adoption of those new payment flows can be even slower. Can consumers' propensity for self checkout help push adoption?

The San Francisco-based bank announced that another consent order with the Office of the Comptroller of the Currency has been terminated. The six-year-old order was related to the bank's risk compliance management and certain loan practices.

A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.

On Thursday night, the Trump administration fired dozens of employees at the Consumer Financial Protection Bureau, according to an email obtained by American Banker. Most of the workers targeted had been hired by former CFPB Director Rohit Chopra.

CEO Cameron Bready told analysts that the company's changes in management structure, product reorganization and strategic retrenchments will show up in earnings later in 2025.

The mayor and city council of Baltimore, along with a Maryland-based economic justice group, are suing the bureau and its acting director, claiming that the recent decision to "defund" the CFPB will leave it unable to support communities.

While executives this week signaled they could accept policies that put pressure on the economy, analysts said the lighter regulatory touch is unlikely to offset Trump's tariff regime.

The Federal Deposit Insurance Corp. and other independent agencies will likely need to identify positions not explicitly required by law under a new Trump administration executive order aimed at downsizing the federal workforce.

For the first time since the Eaton Fire erupted more than a month ago, Altadena has a bank branch that's open for business.

FIS' debit-processing bank clients will soon be able to integrate Affirm's pay-over-time products into existing digital banking infrastructure. For Affirm, it means even more potential BNPL transactions.

Trump's Small Business Administration told probationary staff members it had mistakenly sent them termination notices, then informed some of them the next day they were fired after all.

Citi's head of wealth said the firm is already working with a quarter of the billionaires in the world through its private bank. Now it just needs them to entrust it with managing more of their money.

The Federal Reserve is set to refrain from cutting interest rates for "quite a while," following a hotter-than-expected inflation report, according to Mohamed El-Erian. 

Hester Pierce, a Republican SEC appointee, said industry watchdogs had previously been practicing regulation by enforcement with digital assets.

The bank-owned payments app saw the number of total transactions jump 24% compared with 2023. Small business transactions increased 32%.

Large banks are starting to disclose the compensation they awarded to their CEOs last year. Early signs point to a bounceback after CEO pay fell in 2023.

Joseph Otting, who is leading Flagstar's turnaround, said potential buyers may be interested in acquiring the regional bank once it gets past certain challenges.

Eric Council, Jr. will spend two years in prison for an identity theft scheme that led to a false post by the SEC on X that bitcoin ETFs had been approved.