Opinions

WASHINGTON — Promontory Financial Group announced Friday that it had given financial awards to two small institutions that are expanding banking access to the underbanked.

Banks that do business with the marijuana industry should follow guidance from the Financial Crimes Enforcement Network in order to navigate the conflict between state and federal laws, a top-ranking official from the Office of the Comptroller of the Currency said Thursday.

Consumer activists are targeting the use of arbitration clauses at Wells Fargo and PNC Financial Services Group.

Fannie Mae and Freddie Mac updated their representation and warranties frameworks in a move designed to encourage mortgage lenders to ease credit restrictions by limiting repurchase requirements.

The Consumer Financial Protection Bureau issued a proposal Thursday that would institute new foreclosure protections for consumers after the agency found its previous mortgage rules didn't go far enough.

WASHINGTON — The Financial Stability Oversight Council needs a more formal system for monitoring its process for designating nonbanks as "systemically important," a watchdog said Thursday.

The Federal Reserve announced two separate reviews Thursday to ensure that supervision of the largest banks is being handled correctly.

Consumer Financial Protection Bureau Director Richard Cordray highlighted the role of banks and other payment system operators to ensure proper treatment of customers using transaction networks.

The House Financial Services Committee has appointed five subcommittee chairs for the next Congress.

The National Credit Union Administration's three-member board split along party lines on Thursday in its approval of a $279.5 million operating budget for next year.