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The Office of the Comptroller of the Currency levied the civil money penalty against American Express National Bank for failing to implement adequate call-monitoring controls and track customer complaints with a third-party affiliate.
July 25
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The U.S. division of the Swiss bank will have to pick up the tab for its one-time rival, which it acquired in a government-brokered deal earlier this year.
July 24
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The Federal Reserve Board of governors will discuss the much anticipated capital changes on Thursday afternoon.
July 21
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The Minnesota Bankers Association and Lake Central Bank jointly filed a lawsuit against the Federal Deposit Insurance Corp. over its nonsufficient funds fee rules' inclusion of "unfair or deceptive acts or practices" violations in its policy.
July 21
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The National Credit Union Administration voted unanimously to make it easier for boards of directors to ban problematic members.
July 20
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The launch of FedNow, the Federal Reserve's instant-settlement system, raises many questions for banks, card networks and fintechs regarding costs, routing and other concerns.
July 20
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Officials at the central bank have been discussing a real-time payment system for a decade. Work on FedNow began in 2019.
July 20
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Rohit Chopra, the director of the Consumer Financial Protection Bureau, weighed in on credit card late fees, an upcoming open banking rulemaking and the chaos that could result if the Supreme Court defunds the agency.
July 20
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The Consumer Financial Protection Bureau celebrates its 12th anniversary on Friday, prompting Director Rohit Chopra to discuss the agency's work including a proposal to set credit card late fees at $8 and the upcoming Supreme Court case that could defund the bureau.
July 20
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Republicans have urged the Supreme Court to gut the Consumer Financial Protection Bureau by tying its funding to appropriations. But regulatory experts say that a ruling against the CFPB would threaten the funding of other similarly structured agencies including the Federal Reserve Board, the Farm Credit System and other regulators that are funded through fees or assessments.
July 17
