Policy & Regulation

Even the conservative Supreme Court could see through the baseless arguments put forward by opponents of the Consumer Financial Protection Bureau, assuring that the agency will continue to fight to protect American consumers.

Executives at the Canadian bank, which recently took a major provision for potential fines, say they're working to shore up anti-money laundering controls. At the same time, they're preparing employees and investors for an expensive slog as they work to satisfy U.S. officials.

The agency seeks the public's thoughts on how the regulatory statement governing FHLBanks could better reflect the part they play in housing finance.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.

Part of the Consumer Financial Protection Bureau's mandate is to educate consumers by providing reliable information. With its credit card late fee "report" and the associated rulemaking, it has failed to live up to that responsibility.

Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.

The central bank is merely an instrument of Congress when it comes to setting card interchange fees. Only by making lawmakers feel the heat will the industry see meaningful change.

Federal Deposit Insurance Corp. Chair Martin Gruenberg will testify next week in Congress. Those hearings — which will come after the publication of a bombshell report detailing widespread misconduct at the agency — could signal whether he has a future at the FDIC.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

Thousands of consumers had to wait more than 90 days for funds after their accounts were suddenly closed, according to the Consumer Financial Protection Bureau.