Organization Root Tag

The Consumer Financial Protection Bureau sent a memo asking employees to take a survey that will help the Office of Personnel Management formulate a coordinated governmentwide policy.

In a state where two-thirds of residents use a credit union, a growing populace translates to even more membership, employment and loan growth with those institutions, according to data from the National Credit Union Administration.

The declining credit quality included more borrowers with higher credit scores falling behind on their credit card payments. But executives said the increase remains within expectations as it continues seeing "very linear normalization" in credit.

The Wall Street Journal reported the Fed is investigating Goldman Sachs' Marcus division, the company's effort to reach U.S. consumers that has been scaled back. The New York bank's stock fell 2.5% after the news.

Speaking at an event hosted by the Council on Foreign Relations, Federal Reserve Gov. Christopher Waller said the Federal Reserve has a long runway for its balance sheet reduction.

JPMorgan Chase kept Chief Executive Jamie Dimon's total compensation at $34.5 million for his work in 2022, a year in which the firm's profit fell by almost a quarter and the stock notched its worst annual performance in over a decade.

A proposal by the Consumer Financial Protection Bureau to rein in credit card late fees could result in changes to a "safe harbor" that would favor consumers rather than financial institutions.

Cleveland-based KeyCorp posts a subdued profit in the wake of a loan loss provision that was more than six times greater than the level of fourth-quarter net charge-offs.

In a speech delivered Thursday afternoon, the Federal Reserve's vice chair said she does not see a wage-price spiral driving inflation, but rather a "price-price spiral."

The U.S. government reached its limit on how much money it can borrow on Thursday, teeing up a high-stakes battle in Congress.

The Dallas-based bank, whose deposit base is more commercial-focused, has seen significant outflows in deposits over the past year. But last quarter's declines were "better than we expected," and there are other signs that the environment may moderate this year, its CFO said.

The Consumer Financial Protection Bureau says companies need to clearly and conspicuously disclose terms of subscription services and get informed consent from consumers.

Three men are widely considered the longtime CEO's slate of replacements.

To cool inflation, the Boston Fed president said, the central bank may need to keep raising rates and then holding them steady for a while.

Authorities gained from Russian sanctions legislation helped law enforcement build the case against Hong Kong-based exchange.

The Consumer Financial Protection Bureau expects mortgage servicers to offer streamlined loss mitigation options to borrowers experiencing financial hardship — even if it's not related to COVID-19.

Fannie Mae has selected five organizations to share in a $5 million pilot program aimed at expanding and promoting affordable housing and Black homeownership.

Powell, 69, received the positive test Wednesday and "is up to date with COVID-19 vaccines and boosters," the Fed said in a statement, adding that he is working remotely while isolating at home.

Goldman Sachs provided more details on its pullback from its once-grand ambitions to expand into consumer finance. Though parts of that strategy will remain, the New York bank will halt its personal loan business and postpone offering a checking account for its wealth management customers.

Six large banks will have to estimate the impact of a major hurricane in the Northeast and one other climate disaster on their real estate portfolios. Policy-related risks will also be explored.