The White House is considering Derek Kan, an undersecretary at the Department of Transportation, for one of two open seats on the Federal Reserve Board, according to two people familiar with the matter.

Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard.

As evidenced by a Senate hearing, Republican and Democratic lawmakers still live in alternative universes when it comes to financial regulatory policy.

Over a dozen progressive lawmakers urged the central bank to reverse its course and protect bank regulations enacted after the financial crisis.

The private sector will be able to provide more efficient and innovative technologies for the industry.

The White House is considering conservative economist Judy Shelton to fill one of the two vacancies on the Federal Reserve Board of Governors.

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

The chairwoman of the House Financial Services Committee said the panel will be holding its own public hearings on the proposed merger.

A sharp disagreement between foreign and U.S. regulators is emerging on how far banking supervisors should go in asking financial institutions to stress test their loan and investment portfolios for any risks associated with climate change.

It is designed exclusively to address concerns of regulators who have complained about the bank's lack of progress in recovering from a series of scandals.

The central bank said that while financial markets' desire for higher yields raises the potential for losses, capital and liquidity safeguards temper any concerns about a looming crash.

Fitch Ratings issued a negative warning for global banks after federal regulators proposed some relief from resolution plan requirements.

As the central bank board proceeds with reforms easing the post-crisis regulatory regime, the Obama-appointed governor has not shied from opposing the agency’s course.

Concerns about job losses and political blowback still loom, but the two banks made it through a second day of public hearings hosted by the Fed relatively unscathed and with significant local support.

The announcement comes after several news reports that Stephen Moore would not back down from his anticipated nomination to serve on the Fed despite growing concerns from Republican senators.

The head of the central bank declined to provide more specifics on efforts to simplify the ban on banks’ proprietary trading.

FDIC Chairman Jelena McWilliams revealed an effort by the banking agencies to gain better clarity on how authorities use the huge amounts of suspicious activity reports that banks must submit under anti-money-laundering laws.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The central bank issued an enforcement action against Sumitomo Mitsui Banking Corp. and its New York branch, citing deficiencies related to risk management and compliance with the Bank Secrecy Act.

The two banks’ CEOs used a public hearing to argue their merger will be a boon for underserved markets. But other speakers warned that bank consolidation hurts communities.