Policy & Regulation

WASHINGTON — The Senate Banking Committee will hold a hearing next week examining the possibility of the U.S. defaulting on its debt.

The Consumer Financial Protection Bureau's $1.4 million fine against a large third-party processor for debt relief companies proved that firms can no longer hide in the intricate debt collection stream.

Federal Reserve Board Gov. Jerome Powell said Thursday the agency is planning to launch a new supervision program for community banks next year.

Dorothy Savarese knows as well as any community banker the frustrations from mounting regulation. Empirical studies can illuminate compliance burdens — and their broader consequences — for policymakers, the Massachusetts thrift executive says.

We should instead preserve the right of consumers to choose the products and features that best provide for their family’s daily financial needs, not force them into limited and costly alternatives.

Under the 2010 Dodd-Frank Act, the Federal Reserve requires midsize banks, those with consolidated assets between $10 billion and $50 billion, to conduct annual company-run stress tests.

U.S. regulators released individual plans on Thursday detailing how 11 of the largest financial institutions plan to wind themselves down in the event of a failure.

The West Virginia Supreme Court on Tuesday debated a subpoena and temporary injunction issued against debt buyer Cavalry Portfolio Services.

Consumer advocates pressed the Consumer Financial Protection Bureau on Wednesday to crack down harder on credit card issuers despite recent regulations that largely curtailed hidden fees and predatory practices.

According to a report released Wednesday by the Consumer Financial Protection Bureau, banks and other credit card issuers are charging less in penalties and are doing better at disclosing previously hidden fees.