Policy & Regulation

WASHINGTON — Several officials from the Consumer Financial Protection Bureau are being called to testify before a House subcommittee next week on recent allegations that employees were being mistreated.

Payday lenders told the Consumer Financial Protection Bureau on Tuesday that they will accept new regulation so long as it does not "cripple" the industry and credit availability.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

The top five U.S. financial institutions benefited from a funding advantage in key markets prior to the enactment of regulatory reform, according to a study released Tuesday by economists at the Federal Reserve Bank of New York.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

The Federal Reserve's suggestion that bank assets rise in recessions, though supported by data, paints an incomplete picture. Stress ultimately causes bank assets to decline, but with a considerable time lag.

Sen. Heidi Heitkamp is striking an optimistic tone for mortgage finance reform, saying she's hopeful that a Senate Banking Committee plan to overhaul the market could make it to the chamber floor for a vote this year.

Instead of tasking one team with developing new products, give everyone – from senior management to tellers – permission to innovate continuously. Tapping those with firsthand experience of what works and what doesn't on a day-to-day basis can spur big changes.

The agency released new research that suggests it’s likely to restrict the frequency with which consumers can take out payday loans.

Edward DeMarco will step down from the Federal Housing Finance Agency nearly five years after becoming its acting director.