Person Root Tag

From Democrats winning control of Congress to an escalating trade war and technology companies applying for a fintech charter, there are plenty of scary prospects facing the industry.

The agency wants to change underwriting requirements in the regulation that lenders say will put them out of business, and give companies a break on the compliance deadline.

Under the Obama administration, the OCC quietly prevented JPMorgan Chase from opening branches in new states as punishment for violating banking rules, according to sources.

Legendary former central banker Paul Volcker praised Jerome Powell as the current Federal Reserve chairman faces fire from President Donald Trump for raising interest rates.

Consumer Financial Protection Agency Acting Director Mick Mulvaney is winding down some of the efforts his predecessor worked hardest on: enforcement of payday and fair lending rules and the Military Lending Act. Reporter Kate Berry shares the latest. 

Authorities intercepted the package sent to the office of Rep. Maxine Waters, D-Calif., on the same that pipe bombs were reportedly sent to former President Barack Obama and former Secretary of State Hillary Clinton.

The central bank will hold an open meeting Oct. 31 to discuss changes to the enhanced supervisory regime as required by the regulatory relief bill passed in May.

“We have actually discouraged banks from innovating,” FDIC Chairman Jelena McWilliams said in announcing a move that other agencies have made.

The agency’s biennial survey showed gradual improvement in access to mainstream banks, but over 14 million adults lack ties to a federally insured institution.

Better web access, paid for by banks, could go a long way toward moving the unbanked into the mainstream. It was one of many ideas batted around at a recent a conference on the role fintech can play in promoting financial inclusion.

The bank failed to tell investors that the success of its cross-selling was built on “sales practice misconduct at the bank,” the state attorney general said.

Banks technically relieved of the “systemically important” label in last spring’s legislative package are lobbying regulators hard over concerns that they could still face tough standards.

Netspend customers kept from accessing paychecks; Sen. Elizabeth Warren rebukes Comerica over fraud in benefits program; FDIC poised to revamp deposit rules (about time, say banks); and more from this week's most-read stories.

The senator wants the Fed to retain its asset cap on Wells Fargo until the CEO is fired; industry groups call on regulators to reconsider or scrap plans to modify Volcker Rule.

The Bank Policy Institute said the Current Expected Credit Loss model is a “sea change” from how banks have traditionally set aside reserves.

Sen. Elizabeth Warren is opening a new front in a campaign against a familiar foe — demanding that the Federal Reserve keep its restrictions on Wells Fargo until Chief Executive Officer Tim Sloan is removed.

Earnings were bolstered by lower taxes and higher asset-servicing fees, but revenue was flat and analysts raised concerns about a shrinking deposit base.

The retiring chairman of the House Financial Services Committee defends his often uncompromising pursuit of rolling back post-crisis regulations.

"He hasn't missed any of our diversity and inclusion councils in 10 years. It starts with him and trickles down," said Sheri Bronstein, the bank's global human resources executive.

Main Street and Wall Street banks show strong earnings gains over last year; the president calls the Fed’s rate raising policies “my biggest threat.”