Policymaking

The company's application, which is expected to be announced as early as Thursday, comes after the online lender SoFi applied in June for an industrial loan charter. The bank is expected to be led by a former Green Dot executive.

The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks.

CFPB director gives political speech but avoids saying if he will run for governor in Ohio; Treasury is looking into getting rid of the "too big to fail" label.

A law firm hired by the New York Fed board concluded that Dudley’s error was "inadvertent," and that while it violated the reserve bank's own code of conduct, it did not violate federal statutes.

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have signed off on an abbreviation of the settlement cycle for securities to two days from three days.

Consumer Financial Protection Bureau Director Richard Cordray said his possible political ambitions did not affect the small-dollar rule, while declining to spell out if he was running for office.

The agency will charge higher upfront premiums for most Home Equity Conversion Mortgage borrowers while lowering the annual premium.

The Consumer Financial Protection Bureau’s likely decision to pare back its final rule on small-dollar lending may help guard it against a congressional rollback and pave the way for bankers to return to the space.

The purpose of the stress tests program is to reassure the public that the banking system is safe, but the stress tests are not an independent assessment of financial institutions’ actual strength.

The massive flooding in Texas is sure to put pressure on lawmakers to resolve differences over the National Flood Insurance Program, but a short-term extension of the program is still the most likely scenario.