Policy & Regulation

The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark.

CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year.

The regulator says the bank needs to address employee complaints and pay controls; the presidential hopeful would make it more difficult for banks to combine.

Sen. Elizabeth Warren introduced a bill to require CFPB approval for certain bank merger applications in the wake of regulators' approval of a deal between BB&T and SunTrust.

Lawmakers blasted an apparent decision by the OCC and FDIC to move forward with a proposal to reform the Community Reinvestment Act without the support of the Fed.

The industry's dominant growth strategy of 2019 was a hot topic during a House Financial Services Committee hearing.

Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks.

Banks will not have to file reports on customers just because they're in the hemp business; making it easier for people with no credit history to get loans.

Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues.

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said.