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The last time someone decided to gut a major financial services regulatory agency, we got the Great Recession. DOGE cuts to the Consumer Financial Protection Bureau could trigger similar pain.
May 7
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The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.
May 6
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Eliminating overdraft charges is Stearns Bank's latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren't a good business model.
May 6
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The banking arm of Spanish giant Banco Santander plans to close about 4.5% of its branch network in the United States, according to regulatory filings.
May 6
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Tokenization is a natural fit for the private credit market, and could help create new investment opportunities. But regulators must create clear rules of the road.
May 6
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A representative for the bank said JPMorganChase is still dedicated to venture capital investors and new businesses.
May 5
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A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.
May 5 -
BNY's chief commercial officer talks about AI, tariffs and her efforts to help create a leaner, meaner bank.
May 5
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Paper check use is dropping, but it's still high enough to be a fraud concern for banks. The Trump administration's move to mandate digital could force banks to dump paper once and for all.
May 5
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President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.
May 2
