Politics and policy
Banks say more transparency is needed in the annual scenario testing regime to make capital planning more predictable. But amid a flurry of regulatory reforms, the expectation is that capital requirements are only going up from here.
-
The Consumer Financial Protection Bureau wants to wipe out $9 billion a year in consumer costs by cutting credit card late fees to just $8. But consumer complaints about late fees remain low, and experts say that's because many first-time late fees are forgiven.
July 6 -
Synthetic fraud — which combines real and false identifying information — has been a niche variety of identity theft for some time. But recent advancements in artificial intelligence and people's access to it might bring it into the mainstream in a big way.
July 4
-
Sen. Elizabeth Warren, D-Mass., in a letter to the Consumer Financial Protection Bureau, challenged the idea that credit card late fees serve as a deterrent to delinquency, instead saying issuers told her office that some of them earn tens of millions of dollars collecting late fees.
June 30 -
Banks and credit unions are often at odds, but when it comes to fighting the Consumer Financial Protection Bureau's proposed $8 late fee cap and changes to interchange fees, they have put their differences aside.
June 29 -
The Federal Reserve's highly anticipated stress tests indicate that all banks are sufficiently capitalized to weather an economic downturn, but midsize banks were among those with the lowest minimum capital levels.
June 28 -
The Federal Reserve gave itself the power to raise capital requirements when risks are elevated to ensure banks can lend through the business cycle. But the rule hasn't been used, and it isn't clear it could ever work in practice.
June 27 -
The instant-payments rail, which was set to go live this month, has postponed its launch indefinitely. Experts say it's having trouble keeping the interest of the country's major banks.
June 26 -
The legislation has support among Republicans, who hold a slim majority in the chamber.
June 23 -
Senate Banking Committee Chairman Sen. Sherrod Brown, D-Ohio, and ranking member Sen. Tim Scott, R-S.C., will have to contend with members of their own parties who would prefer a more sweeping executive compensation clawback bill.
June 20
