Opinions

Bank and financial services supervisors have an affirmative duty to address the deep economic divide facing minorities in the U.S.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, is laying the groundwork to potentially declare that Facebook and another Big Tech firms pose risks to consumers.

The lender has been struggling with a series of scandals that have sent its shares to near-record lows, and may face a second criminal indictment in an unrelated case later this year.

This year’s stress-test results show large banks have more than enough capital to deal with a major economic crisis, but their capital requirements will likely go up anyway. That has some observers and industry officials concerned credit will tighten even as the economy teeters on the edge of recession.

Karl K. Klessig provided a fraudulent loan document and forged a signature in an application last year to acquire control of Golden Pacific Bancorp, according to the Federal Reserve.

The Consumer Financial Protection Bureau’s unified agenda was quietly released this week, and it shows that rules on consumer access to financial records and small-business data collection are top priorities. 

Paulson, who announced his retirement as a senior deputy comptroller, is one of three top staffers at the Office of the Comptroller of the Currency who are departing or taking extended leave.

Despite a more rigorous hypothetical stress scenario than last year, each of the 33 banks examined retained far more than their minimum capital requirements in this year’s stress-test results.

Federal Reserve Chair Jerome Powell said the Board of Governors has a limited role in determining which firms are granted master accounts, an emerging point of contention between Congress and the central bank. 

The Consumer Financial Protection Bureau issued a proposal that could ultimately lead to tougher limits on what banks and other issuers charge cardholders for late payments.