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Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks.

Regional banks were the ultimate winners in the Federal Reserve’s proposal to tailor supervision, but rules for the biggest banks remained largely unchanged.

In a highly anticipated proposal, the central bank outlined a new approach for its post-crisis supervisory program that divides banks into different tiers based on size.

Payday lenders scored a victory when the bureau committed to proposing changes next year, but they expressed disappointment that the revamp will not address a key payment-processing provision.

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

The Federal Reserve Board’s meeting to discuss supervisory standards for midsize institutions will be closely watched by regulatory relief advocates and those who want the Fed to maintain its firm hand.

Under the Federal Housing Finance Agency's plan, small Home Loan banks would face a new housing benchmark and a volume threshold for meeting the goals would be eliminated.

Despite improvements in the proportion of consumers without a bank account, there is still work to do to bring more Americans into the banking system, argues FDIC Chairman Jelena McWilliams.

The housing finance agency, which is increasingly at the forefront of reform discussions, has been without a permanent chief for almost two years.

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.