Policy & Regulation

Treasury Secretary Janet Yellen plans to name Michael Hsu, associate director of bank supervision at the Federal Reserve, to be the acting comptroller of the currency, according to The Wall Street Journal.

Without rollbacks of existing anti-money-laundering reporting requirements, a measure designed to make Bank Secrecy Act enforcement more risk-focused would do little to ease banks' regulatory burden.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

The FDIC issued a prohibition order against Mark Wong, who was ordered to pay nearly $220,000 in restitution as part of a guilty plea in January.

The Federal Reserve has kept interest rates low to reduce unemployment and to keep prices stable. But in “Engine of Inequality," Karen Petrou argues that its accommodative stance is actually making the wealth gap wider.

The state's Department of Financial and Professional Regulation will reduce assessments by 61% this year because of overpayments in 2020, helping state-chartered credit unions deal with economic fallout from the pandemic.

Titans of finance, already threatened by President Biden’s push for the biggest tax hike on wealthy Americans in decades, face another peril: Progressives are demanding action on a long-stalled requirement that Washington clamp down on Wall Street bonuses.

The Federal Reserve's top supervisory official, Randal Quarles, says regulators need to get a stronger grasp of digital currencies in order to supervise them. His comments Thursday follow reports that several large banks have started offering clients the ability to invest in bitcoin funds.

Shopkeepers and other establishments say banks' costs have fallen substantially in recent years but interchange prices have held steady since the Federal Reserve capped them in 2010.

Shop owners and other establishments say banks' costs have fallen substantially in recent years but interchange prices have held steady since the Federal Reserve capped them in 2010.