Policy & Regulation

The Consumer Financial Protection Bureau ended special regulatory treatment of the financial services company’s earned wage access products. Payactiv says it requested the action after a disagreement with the agency.

In a new interpretative rule filed Tuesday, the agency gave states a green light to expand on federal laws that protect consumers from unfair treatment by credit reporting agencies.

The next generation of Senate Banking Committee Republicans has signed on to the latest salvo by Patrick Toomey — who will soon leave Congress — against the Federal Reserve Bank of Kansas City. That means the master accounts issue will live on.

Bank and financial services supervisors have an affirmative duty to address the deep economic divide facing minorities in the U.S.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, is laying the groundwork to potentially declare that Facebook and another Big Tech firms pose risks to consumers.

The lender has been struggling with a series of scandals that have sent its shares to near-record lows, and may face a second criminal indictment in an unrelated case later this year.

This year’s stress-test results show large banks have more than enough capital to deal with a major economic crisis, but their capital requirements will likely go up anyway. That has some observers and industry officials concerned credit will tighten even as the economy teeters on the edge of recession.

Karl K. Klessig provided a fraudulent loan document and forged a signature in an application last year to acquire control of Golden Pacific Bancorp, according to the Federal Reserve.

The Consumer Financial Protection Bureau’s unified agenda was quietly released this week, and it shows that rules on consumer access to financial records and small-business data collection are top priorities. 

Paulson, who announced his retirement as a senior deputy comptroller, is one of three top staffers at the Office of the Comptroller of the Currency who are departing or taking extended leave.