Regulation

As part of a review, the agency said it had identified requirements dealing with operating subsidiaries, noncontrolling investments by banks and other corporate activities that were no longer necessary.

Credit union groups are hailing the introduction of a bill to change the bureau’s leadership structure, but similar bills have been introduced in the past and gone nowhere.

The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak.

The company said it expects to enter into the order with the FDIC and its state regulator later this month.

Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says.

The bank's announcement comes a week before CEO Charlie Scharf and two board members will testify on Capitol Hill.

The rule establishes a measure of capital adequacy meant to simplify how banks are assessed in the Comprehensive Capital Analysis and Review program.

Leonard Chanin, a senior official at the Federal Deposit Insurance Corp., has been tapped to serve on a part-time basis as the No. 2 official at the Consumer Financial Protection Bureau, according to a news report.

The court’s liberal bloc and Chief Justice John Roberts, who holds a crucial swing vote, appeared reluctant to remove a contentious provision that limits a president’s ability to fire a sitting director of the bureau.

LendingClub and Varo Money are making inroads into the traditional financial system, but other fintechs still face long odds.