Policy & Regulation

WASHINGTON — The Consumer Financial Protection Bureau is suing a California company accused of running a student financial aid placement scam.

WASHINGTON — Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig was elected as president of the International Association of Deposit Insurers on Thursday.

The Consumer Financial Protection Bureau has fined two large employee background screening companies a total of$13 million for creating inaccurate reports.

Republican presidential candidates managed to get in several barbs over banking policy during the party's primary debate on Wednesday night, largely aimed at the Federal Reserve and government more broadly.

A federal judge has ordered Corinthian Colleges to pay more than $531 million on charges brought by the Consumer Financial Protection Bureau that the for-profit college used illegal tactics to collect on student loan debt.

Citigroup isn't the poster-child for "too big to fail" anymore, Chief Executive Michael Corbat claimed Wednesday, arguing the bank had scaled back and learned from its mistakes leading up to the financial crisis.

A major investor in insurance giant American International Group is calling on the company to break itself up into three companies to get out from under its designation as one of only four systemically risky nonbanks.

Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.

The banking industry largely praised the passage of a major Senate cybersecurity bill Tuesday night, but concerns are mounting about the inclusion of eleventh-hour language that could prompt new rules for financial institutions.

Goldman Sachs agreed to pay a $50 million fine and accepted a three-year ban on some advisory work in New York as part of a settlement with the state's financial regulator over the leak of Federal Reserve documents.