Compliance

The bank formerly run by Steven Mnuchin, President-elect Donald Trump's nominee to head the Treasury Department, allegedly used illegal practices in foreclosing on delinquent homeowners, according to a leaked 2013 memo from the California Attorney General's Office.

Directors today are expected to perform many duties that, even a decade ago, weren't part of the job, from overseeing cybersecurity and the bank's culture to setting online and mobile strategy. Yet the composition of many bank boards hasn't changed all that much. Here's what to do if you have longtime members who lack the skills needed to help a bank compete.

The Consumer Financial Protection Bureau on Tuesday levied more than $23 million in fines and restitution against two of the nation's largest consumer credit agencies, saying that the companies deceived consumers into paying for data that had little beneficial value.

The Senate Banking Committee will have six fresh faces in the new Congress as Republicans grapple with a slimmer majority.

In an enforcement action totaling more than $23 million in fines and restitution, the Consumer Financial Protection Bureau found that TransUnion and Equifax – two of the largest consumer credit reporting agencies – had misled consumers on the value of the data they marketed.

CUNA and NAFCU are pushing for massive changes to the Consumer Financial Protection Bureau in 2017, along with reg reform and protecting recent changes to NCUA rules that seek to expand how credit unions do business.

Capital One Financial in McLean, Va., is facing regulatory delays in its bid to buy a credit card business from the outdoor equipment chain Cabela's.

Capital One Financial in McLean, Va., is facing regulatory delays as it looks to buy a credit card business from outdoor equipment chain Cabela's.

Since the Dodd-Frank Act was passed in 2010, bank industry representatives have confidently predicted that the next year would bring significant changes, only to see their hopes dashed amid partisan divisions over proposed fixes. Until now.

A group of central bankers has postponed its planned meeting to review the details of the final capital and governance standards outlined in the Basel III accords, offering little explanation except that "more time is needed" to complete the rules.