Policy & Regulation

Consumer Financial Protection Bureau Director Rohit Chopra said regulators urgently need to implement the Basel III endgame bank capital proposal, suggesting his opposition to the revised rule centers on the process of re-proposal rather than more substantive opposition to suggested revisions.

The Consumer Financial Protection Bureau warned companies about modern-day surveillance of workers and requirements to follow the Fair Credit Reporting Act.

With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.

Industry groups and consumer advocates are joining forces in support of  proposed regulatory changes.

The danger for the central bankers is that "they go too fast or too slow and that risk is higher now than it was six months ago," BofA Chief Executive Brian Moynihan said.

Section 1033 promised to increase competition in banking and improve the ability to offer novel payment methods, but experts say the regulation isn't clear enough to have a major impact.

A ban on screen scraping and new disclosures to consumers about data usage are among the new elements of the data protection rule.

At the Most Powerful Women in Banking conference this week, New York's top banking regulator said banks need to take full responsibility for the artificial intelligence models they use, even if they bought them from a third party.

Goldman Sachs Group is expected to pay a fine tied to a Consumer Financial Protection Bureau probe into its credit-card business, according to a person with knowledge of the matter.

JPMorgan Chase and bank trade groups criticized the Consumer Financial Protection Bureau's open banking rule for not providing enough data security.