Policy & Regulation

Policymakers signaled more reductions lie ahead, a development that could curb lenders' net interest income in the near term but support economic growth and credit quality.

The move signals the end of the Federal Reserve's battle against runaway inflation in the wake of the COVID-19 pandemic. Fed officials expressed divergent views on further action this year.

The comments came during a two-hour chat on X Spaces in which Trump and his sons offered a decentralized finance company as an answer for the de-banked.

Sen. Elizabeth Warren, D-Mass., and Rep. Maxine Waters, D-Calif., said in a letter to the American Bankers Association and the Chamber of Commerce that the banking industry gets a "free pass" in Community Reinvestment Act examinations.

A new OCC action over the megabank's anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank, is raising concerns that a broader crackdown is at hand.

Banks now have until Oct. 30 to weigh in on potential risks of third-party fintech partnerships for banking products and services.

The crypto company founded by Donald Trump's sons will officially launch Monday.

The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money-laundering order in 2021. Its stock price fell sharply after the news broke.

Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.

The law that created the Consumer Financial Protection Bureau stipulates that the agency must be funded by the central bank's earnings. But, the Fed has been losing money for two years. Therefore, its payments to the agency are not legal.