Treasury Department

In addition to CUs across the continental United States receiving grants, Puerto Rico's cooperativas de ahorro y credito were included for the first time.

Dodd-Frank authorized the council to designate specific nonbanks for tougher supervision, but the Trump administration has signaled support for "activities-based" designations.

The interagency council voted in favor of the bank's application to remove its designation, though the practical effect of the decision is muted by the regulatory relief law passed this spring.

State regulators said Wednesday they will refile a lawsuit against the OCC, attempting to block the agency's new federal bank charter for fintechs.

Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up?

The Treasury Department and a key housing regulator are preparing to fill a second possible vacancy atop a U.S.-controlled mortgage giant, a move that could strengthen the Trump administration's hand in addressing unfinished business from the 2008 credit crisis.

Maybe political winds or another downturn will spark housing finance reform. But 10 years after the conservatorships began, the companies are still in perpetual limbo.

The agency is seeking public comment on how to reform the Community Reinvestment Act — a big step forward without the Fed or the FDIC on board.

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them.

The agency’s move to offer a national charter for fintech firms will undermine state authority and give certain firms an unfair advantage.

The agency’s move to offer a national charter for fintech firms will undermine state authority and give certain firms an unfair advantage.

The Treasury Department and the Internal Revenue Service issued a proposal that would allow pass-through businesses like Subchapter S banks to deduct 20% of their business income as part of the new tax law President Trump signed last year.

They are disinclined to talk about it much yet, but the big three trust banks as well as JPMorgan and Goldman are said to be mulling custody services that would help shield wealthy bitcoin investors from theft. Here are the selling points and the risks.

The mortgage giants Fannie Mae and Freddie Mac would have to draw as much as $78 billion in the event of a serious economic crisis, according to stress test results released Tuesday by the housing regulator.

The unnamed customer, who was on a list of suspects involved with weapons of mass destruction, used an HSBC credit card to make 12 payments in the second quarter, the company told shareholders Monday.

The bureau wants to encourage more innovation without the threat of enforcement, but observers say regulators also need a testing ground to prove they can regulate fintech.

The administration’s recent report on fintech innovation discussed ways to adopt electronic promissory notes — or eNotes — and automated appraisals in federal mortgage programs.

Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.

The decision, unveiled just hours after the Treasury Department endorsed the charter concept, means some fintech firms could soon be regulated more like banks.

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.