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U.S. banks are poised to score a victory in their fight to keep regulators from pinching the billions of dollars in fees they charge consumers who overdraw their accounts.
June 5 -
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.
June 5
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PHH Corp. has been ordered to pay $109 million over allegations that it illegally accepted kickbacks on reinsurance premium payments after Consumer Financial Protection Bureau Director Richard Cordray partially overruled a decision previously made by an administrative law judge.
June 4 -
Federal Reserve Gov. Daniel Tarullo laid out his vision for identifying and addressing any possible risks in the asset management industry, which he said centers around run risks and potential for creating excessive leverage.
June 4 -
Nearly three dozen Senate Democrats are pushing the Consumer Financial Protection Bureau to adopt "the strongest possible" payday lending rules, including a requirement that lenders assess consumers' ability to repay the loan.
June 4 -
The Consumer Financial Protection Bureau issued a consumer advisory on Thursday warning older consumers about misleading advertisements promoting reverse mortgages.
June 4 -
MetLife Chief Financial Officer John Hele said financial watchdogs failed to define what they mean by systemic before working on new rules for companies that are designated a risk to the financial system.
June 4 -
RPM Mortgage and its chief executive are facing $20 million in fines on allegations that the company violated the loan originator compensation law enforced by the Consumer Financial Protection Bureau.
June 4 -
Bank of America has been sued by military veterans who say the bank charged them excessive interest rates while they served in Iraq, the Triangle Business Journal reported.
June 4 -
In the wake of a report that the Financial Crimes Enforcement Network has identified more than 50 credit unions at risk of serving as a conduit for money laundering activities, the CU trades and regulators alike were scrambling to respond to what the NCUA suggested could be a "regulatory blind spot."
June 4
