Policy & Regulation

The 2020 Democratic presidential candidates are far more emboldened to offer radical reforms to the financial system than their predecessors — reforms that could ultimately take hold if one of them wins.

A report identified gaps in documentation and other weaknesses that the watchdog said heighten the risk of agency officials being too cozy with the institutions they supervise.

The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more.

The Senate Banking Committee will likely vote on Todd Harper and Rodney Hood's nominations to the federal regulator, while lawmakers hold hearings on a host of credit union priorities.

The House Financial Services Committee chair said in an open letter that she wants to empower bureau staff amid reports of low morale.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

Former Managing Director Timothy Fletcher banished for role in referral hiring; Apple-Goldman collaboration shows banks fear missing out.

OCC orders USAA to improve risk management; White House's mixed signals complicate housing finance reform debate; Rhode Island bank snaps up dealmaking boutique; and more from this week's most-read stories.

Governor JB Pritzker has nominated Deborah Hagan as secretary of the state's Department of Financial and Professional Regulation, where her duties would include overseeing state-chartered CUs.

The OCC said that branches in New York, Los Angeles and Chicago will be required to take certain corrective actions, but it did not hit the Japanese-owned bank with any financial penalties.