Enforcement

Proposal would lower capital requirements for some, raise them for others; Mulvaney says enforcement division will continue to police lending discrimination.

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.

British banks that deal with the Russian oligarchs and companies on a new American sanctions list will face "consequences," according to a senior U.S. Treasury official.

According to the Reuters report, which cited unnamed sources, acting CFPB Director Mick Mulvaney is seeking a settlement with Wells over claims related to force-placed auto insurance and improper mortgage fees.

The financial services industry and community reinvestment advocates both praised the Treasury Department’s recommendations for reforming Community Reinvestment Act enforcement.

Policies to shore up banks’ corporate cultures have remained a low priority even though some regulators want to attack the issue head on. Strengthening a firm’s ethical values may best be left to a bank’s internal brass.

The agency said Cross River Bank and an affiliated debt settlement company misled customers into thinking a debt consolidation program would settle their debts and boost their creditworthiness.

UBS agreed to pay $230 million to resolve a New York state probe into the Swiss bank's marketing and sales of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion.

Canada's financial consumer watchdog will strengthen its supervisory and enforcement teams, modernize its supervision approach to monitor banks more proactively, and enhance consumer information after reviewing bank sales practices.

The bank is the latest to report required pay discrepancies in their British units; the DOJ and SEC are looking into sales practices at the bank’s wealth management unit.

Sen. Elizabeth Warren, D-Mass., raised ethics concerns about Mick Mulvaney's dual role leading both the Consumer Financial Protection Bureau and the Office of Management and Budget.

Under Richard Cordray, the consumer bureau had questioned whether affiliations between small-dollar lenders and sovereign tribes are exempt from state laws, but observers say the agency’s acting chief has signaled a more welcoming approach.

Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more.

Sen. Elizabeth Warren, D-Mass., introduced a bill to create a permanent law enforcement unit to investigate criminal activity at large banks, just as the Senate was close to passing a regulatory relief package.

The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation.

The major prepaid card issuer agreed to the penalty to settle allegations that it had charged higher fees than what was disclosed to customers.

The Dodd-Frank Act consolidated massive authority under the Consumer Financial Protection Bureau, but acting Director Mick Mulvaney wants the bureau to take a back seat to states and other federal regulators.

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

The bank overcharged some customers and some received inappropriate investment advice; 2.4 million more people were affected by the breach.

Wells Fargo's legal and regulatory struggles expanded to previously untarnished businesses Thursday as the company revealed new allegations of improper sales practices. The Federal Reserve vowed to keep unprecedented sanctions in place for a "significant period."