Opinions

The bank in Richmond, Virginia, failed to properly disclose its overdraft practices to roughly 8,500 consumers who enrolled by phone or in branches from 2017 to 2020, according to the Consumer Financial Protection Bureau. The company admitted no wrongdoing.

The OCC, part of the Treasury Department, said Tuesday the products present credit, compliance and reputation challenges for the banks.

FedNow will transform payments in the U.S., but its adoption might speed up if the Fed adopts some of the strategies Brazil used to roll out its Pix platform.

Bank customers' complaints of sudden account closures track a rise in automated anti-money-laundering decisions and possibly outdated AML rules.

Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.

Banking advocates claim FDIC's proposed corporate governance guidelines could undermine their legal duty to shareholders, despite the agency's claim that the proposal wouldn't break new ground.

The lobbyist for the Home Loan Bank System has asked the Federal Deposit Insurance Corp. to confirm that the private consortium can continue to be a "lender of last resort," in direct conflict with the recommendations of its regulator, the Federal Housing Finance Agency.

Republicans and a handful of Democrats in the House and Senate, which already had passed an identical bill, say the data-collection rule would be too onerous for lenders and small-business borrowers. President Biden is expected to veto the legislation.

Anne Marie Pippin, associate director in the Federal Housing Finance Agency's Office of Financial Technology, weighs the forces shaping the industry's future.

The Federal Reserve's vice chair for supervision said the central bank is weighing regulatory and supervisory changes to liquidity management standards. Current approaches, he said, might not be able to contend with the speed of modern runs.