Politics and policy

The Consumer Financial Protection Bureau is warning that excessive fees can chip away at the cash sent to the most vulnerable consumers who opt to receive Social Security and other public benefits via prepaid cards.

Americans for Financial Reform say in an amicus brief that the Second Circuit should revisit a 30-year old decision ruling that loan participations were not securities.

Overall, depository share has shrunk, but the major player, which had reduced its involvement, has been increasing it and recently shared some thoughts with a HUD official.

A bill introduced by Sen. Dave Min would prohibit banks that invest in gunmaking from working on any aspect of state public finances, including bond sales.

Sen. Elizabeth Warren, D-Mass., specifically called out acting Comptroller of the Currency Michael Hsu, saying that he "needs to learn how to say no to anticompetitive bank mergers."

The New York City Banking Commission will now require banks seeking access to municipal deposits to provide detailed plans about how they are combatting discrimination. The commission is also implementing a public comment process as part of its process for determining which banks are eligible.

The Community Bankers Association of Illinois is calling on regulators to issue guidance that would make large financial institutions toughen customer verification and be more cooperative in resolving disputes over falsified checks.