Regulation and compliance
Burdensome regulations have decimated correspondent banking relationships, harming the most vulnerable in the U.S. and abroad.
-
The Consumer Financial Protection Bureau's new unit will identify the root causes of recurring violations and find ways to hold companies accountable.
January 3 -
After a slow start, the Federal Reserve got its efforts to combat runaway inflation up to speed quickly, implementing tightening monetary policy at the fastest rate seen in decades. Here's a hike by hike breakdown.
December 28
-
Two long-awaited developments — the Consumer Financial Protection Bureau's data access proposal and the Federal Reserve's faster payments network debut — are slated for next year. The combined effect on consumer banking might be more consequential than we now know.
December 27 -
The U.S. should look abroad for innovative solutions to the problem of assessing the creditworthiness of borrowers with little formal credit history.
December 26 -
The National Credit Union Administration will soon name a director for its Office of Financial Technology and Access, which Hood — a board member and former chairman of the agency — created. He explains in an interview why the office's work is a priority.
December 23 -
Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20 -
In a joint review published Friday, the Federal Reserve and Federal Deposit Insurance Corp. found problems with two foreign banks' bankruptcy resolution plans.
December 20 -
In a sprawling consent order, the Consumer Financial Protection Bureau order cited mismanagement that extended from auto loans to mortgages and deposit accounts. Wells Fargo CEO Charlie Scharf called the agreement a critical milestone to "put these issues behind us."
December 20 -
Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.
December 19
