Opinions

Two people were charged with using a New York state employees credit union to process more than $1 billion in suspect financial transactions while failing to file suspicious activity reports or maintain adequate anti-money-laundering controls.

In a speech, Federal Deposit Insurance Corp. Chair Jelena McWilliams zeroed in on the potential for outdated technology to impede the banking industry and even threaten the sector’s resilience.

The company agreed to pay a $750,000 to address claims it steered consumers into high-cost loans from affiliated lenders. It will also reimburse consumers $646,000 in fees.

The Consumer Financial Protection Bureau's revocation of a Trump-era policy on abusive practices could mean higher fines and penalties for violators. But it still isn't clear what makes a practice abusive.

The markets and the Fed are not on the same page about the future of inflation. Luke Tilley Senior Vice President and Chief Economist at Wilmington Trust will discuss the economy and inflation.

As Fincen implements an anti-money-laundering law requiring businesses to add their beneficial owners to a new database, bankers worry they'll still be on the hook to provide that information on behalf of customers for some time.

As more states legalize online gambling, the credit union is preventing members from using their credit and debit cards on those sites. Others could follow its lead.

The central bank should consider using a tool requiring higher capital amounts when times are good rather than offering temporary regulatory relief in a downturn, said Boston Fed President Eric Rosengren.

The agency has suggested it could go beyond enforcing fair-lending laws to urge financial institutions to help narrow the wealth gap. But those very same laws pose obstacles to achieving that goal.

Federal Reserve Chair Jerome Powell said the central bank is involved in a large-scale research and development project on the digital dollar, and that questions of whether adopting such a currency would provide a public benefit have yet to be resolved.