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Mary Mack, the head of consumer banking at Wells Fargo, said Thursday the San Francisco bank has made significant progress in fixing its culture after a series of scandals over the past two years.

The central bank’s top regulatory official discussed how the Fed is using listening sessions in isolated communities to understand the effect of losing the one bank in town.

Credit unions would not be impacted by the proposal, but the movement has spent much of the last decade telling lawmakers and regulators CUs are being punished for the actions of big banks that led to the financial crisis.

A new agency Web page has information on nearly every aspect of the agency's operations, including de novo applications, bank exams and failures.

Senate Democrats on Wednesday called for acting CFPB Director Mick Mulvaney to reveal the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused an uproar at the agency.

For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution.

The legislation would require the restructuring of financial institutions that have a total exposure exceeding 3% of the nation’s GDP.

Financial regulators sought to walk a fine line Tuesday between reassuring Republican senators that they are quickly implementing regulatory relief and defending themselves against Democratic criticism that they are going too fast.

Shannon McGahn will depart the House committee next week and will join the National Association of Realtors as senior vice president of government affairs.

The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."

The head of the National Treasury Employees Union said the appointment of Eric Blankenstein to a senior role “reflects poorly on CFPB management.”

The House Financial Services Committee is examining sexual harassment charges against FHFA director Watt. American Banker reporter Hannah Lang offers her take.

Fed Vice Chairman of Supervision Randal Quarles said in written testimony that the central bank plans to move quickly to determine how to regulate banks between $100 billion and $250 billion of assets, and that it may provide also relief for banks over the $250 billion threshold.

Seven Republican senators urged regulators on Monday to consider additional changes to the Volcker Rule's "covered funds" definition.

Eric Blankenstein, a political appointee overseeing fair-lending policy at the agency, said in an email to staff that his blog posts from 14 years ago that used a racial epithet “reflected poor judgment.”

The agency found that banks with less than $10 billion in assets were more prone than larger lenders to go beyond using standard criteria in evaluating borrowers.

Laplanche agrees to a three-year securities industry ban and a small fine to settle SEC fraud charges on loan sales; analysts are expecting a "tepid" quarter as some trading activity suffers.

What started as a single senior official at the CFPB voicing concerns about blog posts written 14 years ago by Eric Blankenstein, a top agency political appointee, is rapidly becoming a rising chorus of discontent.

The head of the agency’s fair-lending office cast doubt on a proposed reorganization of her office and raised concerns about blog posts written years ago by the political appointee overseeing the project.