Policy & Regulation

The Richmond, Virginia-based bank has created a $5 million legal reserve fund with an eye toward resolving a long-running regulatory inquiry by the CFPB

The Treasury Department's Financial Crimes Enforcement Network said it is looking into the feasibility of verifying entries in a forthcoming beneficial ownership database, but may be limited by legal and cost considerations.

The House Financial Services Committee passed several bills through to the full House that would toughen congressional oversight of the Consumer Financial Protection Bureau.

The Texas Bankers Association, a trade group representing Lone Star State bankers, accused the agency of exceeding its authorities in crafting its rule on collecting data about small business lending activity.

Apparently thinking he was speaking to Ukrainian President Volodymyr Zelenskiy, Powell is seen in a video broadcast on Russian TV answering questions on topics ranging from the outlook for inflation to the Russian central bank.

The agencies warned banks to fix fee programs before they result in penalties.

Her statement calls out "a fundamental misunderstanding about the fees" following concerns expressed by two congressmen and others about their impacts.

The Federal Reserve's final rule severely restricting the ability of state member banks to engage in crypto-related activities was released without a legally required period of notice and comment.

The central bank believes it needs authorization to issue a digital dollar, but others say the hurdles to implementation are much lower.

Federal officials should have protected both banks' uninsured depositors by following the law's carefully designed framework for dealing with failures of systemically important banks.