Policy & Regulation

A number of banks and business groups sue to block prohibition on mandatory arbitration; credit bureau weighs how far back to look in denying compensation.

The Financial Stability Oversight Council said Friday that AIG, whose collapse threatened to bring down the U.S. financial system during the financial crisis, should no longer be subject to enhanced standards.

The week of Oct. 2 is shaping up to be a significant one for the financial services industry on Capitol Hill, as lawmakers grill the top executives of Equifax and Wells Fargo, as well as the top regulator of Fannie Mae and Freddie Mac.

Ocwen Financial reached a settlement with 10 states under which it can't acquire servicing rights for eight months but will not face any financial penalties.

With baby boomers moving into retirement and many young folks eschewing careers in banking, the industry could soon be facing a talent shortage. Are more banking degree programs the answer?

The groups argue that the CFPB did not properly conduct a cost-benefit analysis of the rule banning mandatory arbitration agreements and that the final product will harm, not help, consumers.

Points about various exam and regulatory credit union issues were raised

Also on Friday, Deutsche Bank agreed to pay $190 million to settle allegations that it rigged foreign exchange rates.

President Donald Trump and Treasury Secretary Steven Mnuchin met Thursday with former Federal Reserve governor Kevin Warsh as a potential nominee to be next Fed chairman, an administration official said.

Meetings between bank regulators and technology giants like Amazon and PayPal underscore Silicon Valley's growing involvement in the financial services arena, and may presage pursuit of a bank charter.