Regulation

Though it became official in January in the U.K., most people there don't know what it is, according to a new survey that offers many insights for U.S. banks.

Banks hoping to make working with the cannabis industry easier saw a positive sign this week when Congress removed the prohibition on a less potent substance.

Kathy Kraninger's first official action as head of the Consumer Financial Protection Bureau is to reverse course on acting chief Mick Mulvaney's effort to rename it the Bureau of Consumer Financial Protection, which consumer groups and others had sharply criticized as confusing and costly.

The agency’s rate cap for banks that are less than well capitalized contains several flaws and poses problems for community banks.

The move is sure to draw criticism from bankers because it would allow credit unions to compete for backing from private investors.

Fabrice Coles, who was the CBC's executive director, will work on consumer and fintech policy issues at the Bank Policy Institute.

The agency rolled out nearly a dozen policy changes, proposals and requests for comment, including an advance notice of proposed rulemaking on brokered funding.

The move is sure to draw criticism from bankers because it would allow credit unions to compete for backing from private investors.

A former senior staffer at the Federal Deposit Insurance Corp. was found guilty of embezzling confidential information about banks from the agency before she left her post, and could face up to 20 years in prison.

The objectives of a Financial Crimes Enforcement Network rule requiring financial institutions to collect “beneficial ownership” details are laudable, but the regulation can be subverted by unscrupulous customers.