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By exempting small banks from compliance with its open banking rule, the Consumer Financial Protection Bureau is relegating them to the dustbin of history. That cannot be allowed to happen.
November 8
Vast Bank -
The Vienna, Virginia-based credit union will pay tens of millions of dollars in penalties over what the agency said was "junk fees" charged to Navy Federal's customers.
November 7
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The plea agreement, which includes a fine of more than $1.4 billion, penalizes TD for systemic money laundering violations. "We have the ability to profit, and we should be able to profit, but not at the expense of the law," said U.S. District Judge Esther Salas.
November 7
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The Federal Reserve's Federal Open Market Committee will announce its interest rate decision at 2pm, followed by a press conference with Federal Reserve chair Jerome Powell. Markets are expecting a 25 basis point rate cut at today's meeting.
November 7
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An uptick in fines associated with anti-money-laundering failures demonstrates that U.S. banks still have much work to do in terms of optimizing their internal systems to identify and stop the flow of dirty money.
November 6
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The Consumer Financial Protection Bureau will soon have to defend its interpretive buy now/pay later rule in court following an industry advocacy group lawsuit. Here's what's at stake.
November 4
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Sens. Elizabeth Warren and John Hickenlooper say recent data suggests there is "no need for restrictive interest rates" and easier monetary policy is necessary to lower housing costs.
November 4
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It is nonsensical for the government to sue one of the leading lenders in an underserved minority community as a means of encouraging more lending in that community.
November 4
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The company disclosed the potential for legal action 'in the near-term' by the bureau in a recent earnings disclosure.
November 1
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The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.
November 1
