Opinions

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

Eagle Bancorp in Bethesda has agreed to pay $22.9 million to regulators to settle claims it failed to report loans totaling $99 million made to founder Ron Paul, who will pay more than $500,000 in fines in addition to being barred from the industry.

The Federal Deposit Insurance Corp. said its actions are "consistent with longstanding legal authorities to ensure that banks engaging in crypto-related activities are doing so in a safe and sound way that protects consumers."

The Federal Reserve Board's new guidance comes as the central bank is slated to decide whether to grant Custodia, a Cheyenne, Wyo.-based crypto firm, a master account.

Marianne Lake, the company's co-chief executive officer of consumer and community banking, will serve a one-year term on the Federal Reserve Board's Federal Advisory Council. She represents the New York Fed.

The remittance provider claims the Consumer Financial Protection Bureau worked to ensure it could file the case in a venue that would be more receptive to its claims.

On a combined basis, the GSEs performed better under this year's scenario than they did in 2021, but the Federal Housing Finance Agency said changes were still needed.

The new vice chair for supervision selected a career Federal Reserve staffer to oversee the implementation of his supervisory and regulatory policies. Progressives had been urging him to pick an outsider for the position.

The Consumer Financial Protection Bureau said that digital marketers involved in the development of content strategy can be liable for "unfair, deceptive or abusive acts or practices."

Digit engaged in deceptive acts or practices by routinely causing checking accounts to overdraft, the Consumer Financial Protection Bureau said.