Policy & Regulation

Steven Antonakes, the long-time acting No. 2 at the CFPB, has now permanently assumed that position.

If spun off from firms that rate corporate debt, raters of asset-backed securities would have less incentive to sugarcoat ratings in exchange for the promise of an issuer’s other business.

The owner of a funeral home in Illinois is among several business people nationwide who have reported to the Better Business Bureau that they see no evidence they received any services after paying a California collection agency thousands of dollars to recover customer debts.

Citibank has agreed to pay $55,000 to settle a complaint by the Connecticut attorney general that the bank was aware of a security flaw in its online banking service that resulted in hackers obtaining payment card data and stealing about $2.7 million.

Doomsayers conveniently forget that the business case for introducing debit cards was one of cost avoidance for the banks, not revenue.

The risk retention requirement was supposed to ensure lenders had "skin in the game" when making mortgages. Instead, regulators appear to have abandoned that concept by crafting an exception so large that most single-family mortgages will be exempted.

Online lender Western Sky Financial says it has laid off 94 employees on a South Dakota Indian reservation following its decision to suspend operations.

U.S. regulators on Tuesday gave certain firms, including large foreign institutions with a small footprint in the U.S., a guide on how to tailor their resolution plans that must be submitted by yearend.

The Fed is prepping a proposal to toughen Regulation W, which governs how a bank does business with its subsidiaries and affiliates.

Doomsayers conveniently forget that the business case for introducing debit cards was one of cost avoidance for the banks, not revenue.