Regulation

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.

The American Bankers Association also argued that the definition of a low-income credit union was too broad.

Banks claim that regulators have been avoiding using a transparent public process to implement new regulations, opting instead to use informal guidance that has the impact of policy.

Researchers found that stolen payment data has been used to finance terrorism, human trafficking and other organized crime. Their conclusion that card fraud needs to be taken more seriously by banks and card networks drew pushback from the financial industry.

Democratic lawmakers argue that Paul Watkins' former employment at a "homophobic hate group" makes him unfit to lead the agency's innovation office. Watkins says he did no advocacy work for that organization.

There is bipartisan agreement in the Senate that Fannie Mae and Freddie Mac are "too big to fail," but some lawmakers are skeptical that a SIFI designation is appropriate.

The president signed an executive order Tuesday establishing a White House council dedicated to examining regulatory barriers to affordable housing.

The number of minority depository institution charters is declining even as their financial performance is going up, according to a new study by the FDIC.

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared.