Compliance

A mix of lawmakers, regulators and industry stakeholders discussed reforming Dodd-Frank and other hot topics at the National Association of Federal Credit Union’s conference on Capitol Hill.

Despite praise from CFPB Director Richard Cordray, tension was high during his address at the conference, which also featured a variety of lawmakers alternately criticizing and defending the bureau.

Other investigations related to Wells Fargo may prevent the Consumer Financial Protection Bureau from sharing confidential information with House investigators, Director Richard Cordray said Thursday.

Despite several attempts over the past two weeks, Wells Fargo has been unable to quell the furor surrounding revelations that thousands of employees opened millions of phony accounts. Here's why.

Republican lawmakers are pushing back against claims by the Consumer Financial Protection Bureau's allies that it rooted out fraud at Wells Fargo, arguing the L.A. City Attorney and the Los Angeles Times brought the situation to light.

It didn't go well when Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee. Here are some of his worst moments.

As long as current projections hold, the regulator is unlikely to require further assessments from credit unions, though it is not yet clear whether CUs will get any money back.

Policymakers repeatedly said during a Senate Banking hearing Tuesday that Wells' mistakes couldn't be blamed — as the company maintains — just on rogue employees. Instead, they see a cultural problem at the San Francisco bank and wonder whether it extends beyond Wells Fargo.

Credit union analysts are skeptical of the chances for CFPB reform following the Wells Fargo fiasco, but they are also optimistic that it could spur another Bank Transfer Day-style opportunity for CUs.

The fallout from the banking giant's fraudulent practices has some wondering whether or not CUs might be wise to reexamine their own cross-selling strategies.

John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming scandal, but his harsh questioning by lawmakers — and his struggle to answer many of their questions — suggests that the embattled megabank's problems are just beginning.

Contrary to expectations about growing mortgage lending volumes, current industry trends suggest a gradual reduction in capacity for both lending and servicing that should alarm policymakers.

Credit union regulators from 30 jurisdictions around the world have registered an independent association called the International Credit Union Regulators' Network.

Virtual currency advocates are hoping a recent surge of support in Congress can help them accomplish a long-sought goal of creating a safe-harbor for companies that do not directly hold customers' funds.

Streamlining quarterly reporting is part of NCUA Chairman Rick Metsger's ongoing efforts at "Continual Quality Improvement," but trade associations say the regulator should go further.

A top CFPB official said Monday that lenders have adjusted their business models and practices to comply with new rules, while MBA CEO David Stevens called on the Federal Housing Administration to clarify its underwriting standards.

At the start of its fourth decade, the Automated Clearing House — a payment method most commonly known for facilitating payroll direct deposits — has found itself firmly in the crosshairs of the card networks and alternative payment providers.

A union-led coalition is seizing the opportunity presented by the firing of 5,300 workers at Wells Fargo to call for higher pay and better working conditions for branch employees.

All eyes will be on Well Fargo Chief Executive John Stumpf on Tuesday as he fights to defend himself before a Senate Banking Committee hearing against charges that he and other top bank executives should have earlier detected and stopped millions of phony accounts from being opened.

The 2016 election cycle has been anything but ordinary, and donations from financial institutions’ political action committees (PACs) have followed a similarly erratic trajectory this year.