Opinions

Rep. Andy Barr, R-Ky., is urging the Government Accountability Office to examine the Consumer Financial Protection Bureau's credit card late fee proposal.

Banks are perfectly willing to comply with a reasonable data collection standard. The problem is that the Consumer Financial Protection Bureau's final rule makes demands far in excess of what the law requires.

While medical debt is not a problem created by the financial services industry, the industry has a critical role to play in addressing it.

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

Proposed capital rules aimed at bigger institutions will force regional and larger community banks to consider ways to grow or seek an exit strategy, bankers and analysts predict.

The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.

Top GOP members of the House Financial Services Committee have asked the Office of the Comptroller of the Currency for details regarding the hire of Prashant Bhardwaj, who left the agency, and what rulemakings he was involved in.

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.