Opinions

Consumer Financial Protection Bureau Director Rohit Chopra faces tough questions next week testifying before the Senate Banking Committee and House Financial Services Committee.

The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties.

Widespread adoption of a central bank digital currency would utterly transform the financial services sector by reducing access to loans and raising prices for consumers.

Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.

It would be a mistake for regulators in the U.S. and Canada to delay the rollout of rules supporting open banking. Fears of bank runs as a result of customer access to their own financial data are overblown.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

After an appeals court sided with the Consumer Financial Protection Bureau in February, the CFPB and PayPal filed a round of legal arguments in late May to resolve remaining claims from a lawsuit PayPal first filed in 2019.

The ill-conceived proposed rule would increase costs for a significant majority of credit card customers.

Federal Reserve Board Gov. Philip Jefferson, who has been tapped to serve as vice chair of the central bank, said the new rules will standardize capital requirements and increase transparency.

The Federal Deposit Insurance Corp. said in its quarterly banking profile that the banking industry remains resilient despite a challenging economic backdrop, but exposure to commercial real estate losses and interest rate risks could make continued stability difficult.