Policy & Regulation

Federal Deposit Insurance Corp. Chairman Martin Gruenberg was contrite during a House cybersecurity hearing Thursday, acknowledging that the agency failed to protect key bank data.

Congress should abandon the idea of repealing a section of the Dodd-Frank Act that has helped make pricing for payment processing more competitive.

WASHINGTON — President Obama announced Wednesday his intention to nominate John Herrera, who serves on the board of one credit union and works for another, to fill the vacancy on the National Credit Union Administration's board.

The investigation into the lack of new bank charter applications has turned into a proxy battle over the Dodd-Frank Act, with Republicans and many industry players pointing a finger at the 2010 law.

The companies agreed to divest the branches, along with nearly $738 million in deposits, to secure Justice Department approval.

Lawmakers investigating a slate of cybersecurity breaches at the Federal Deposit Insurance Corp. have accused agency staff of purposefully muddying the waters in an effort to evade Congressional scrutiny.

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

WASHINGTON — Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

The Consumer Financial Protection Bureau and director Richard Cordray defeated a legal challenge to actions taken by the agency while he was a 2012 recess appointee of President Obama.

Online marketplace lenders found themselves in the congressional crosshairs Tuesday just as some lawmakers are attempting to provide the industry with sought-after reforms.