Regulation

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

WASHINGTON — Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

The Consumer Financial Protection Bureau and director Richard Cordray defeated a legal challenge to actions taken by the agency while he was a 2012 recess appointee of President Obama.

Online marketplace lenders found themselves in the congressional crosshairs Tuesday just as some lawmakers are attempting to provide the industry with sought-after reforms.

The debate over Rep. Jeb Hensarling's bill to overhaul the Dodd-Frank Act is increasingly focusing on widely different philosophies about capital regulation.

WASHINGTON — The head of the American Bankers Association on Tuesday defended financial institutions' partnerships with fintech firms but argued that banks top nonbank startups in serving as "trusted custodians" for their customers' funds.

As policymakers try to calibrate the appropriate level of regulatory oversight still six years after Dodd-Frank, financial institutions large and small must stay engaged in key policy debates.

The leading Democrat on the Senate Banking Committee said Tuesday he was "optimistic" about lawmakers' making changes to improve the Dodd-Frank Act next year, while lauding JPMorgan Chase's decision to raise its minimum wage from $10.15 an hour to $12.

The combination of smarter consumers and likely CFPB action have, oddly enough, pushed banks, especially large ones, to raise overdraft fees in recent months.

Offering a new product or considering a merger may boost returns, but the Office of the Comptroller of the Currency says changes in strategy can be risky.