Policy & Regulation

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.

Sen. Elizabeth Warren, the founder of the Consumer Financial Protection Bureau, appeared alongside Director Richard Cordray on Wednesday during a rare joint appearance to discuss politics, financial products, and breaking up the big banks.

The Senate approved a key cybersecurity bill Tuesday after several days of debate on the chamber floor — and several years of lobbying by business groups, including bankers.

Sure, the U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren't so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," the HUD Secretary Julian Castro said this week.

The Department of Education on Tuesday finalized a set of rules that will restrict certain banking practices for federal student loan servicers.

The Senate approved a key cybersecurity bill Tuesday after several days of debate on the chamber floor — and several years of lobbying by business groups, including bankers.

Several large banks have already embraced standards released Tuesday by a consumer advocacy group laying out how institutions can offer safe, entry-level financial services.