Nearly a dozen states are looking to regulate digital payroll advance products, prompting a fintech trade group to ask the Consumer Financial Protection Bureau to conduct a formal rulemaking.

Lawmakers on both sides of the aisle pulled back from criticizing the Federal Home Loan banks, seemingly taking off the table the idea of changing the system's role as a lender to troubled banks.

Financially stressed consumers nearing their credit limit use buy now/pay later loans to finance smaller purchases, while wealthier households want to avoid paying interest or carrying a balance on credit cards for bigger-ticket items, according to the New York Fed.

For customers who are declined through traditional underwriting models, artificial intelligence models that can take in more data take a wider lens of creditworthiness.

The regulator's action indicates that — after years of overhauling its operations — the bank has finally shown it's in compliance with the agency's standards on sales conduct.

The Federal Reserve Board's 2024 stress test scenario posits severe market volatility, widening corporate bond spreads and significant declines in asset prices. The scenario comes alongside new exploratory analyses probing additional risks for the first time.