Policymaking

The head of the New York Department of Financial Services did not mince words Wednesday in criticizing a proposed federal fintech charter.

Steven Mnuchin's time as OneWest CEO is expected to draw ample attention at his nomination hearing, but it will not be the only issue to come up as senators try to gauge how he would lead President-elect Trump's financial policies.

Top Democrats vowed Tuesday to defend the Consumer Financial Protection Bureau, predicting Director Richard Cordray will file a lawsuit if he were fired by Donald Trump after he is sworn in as president.

The U.S. Supreme Court turned away an appeal by Bank of America, Citigroup and JPMorgan Chase, refusing to stop antitrust lawsuits that accuse some of the world’s largest banks of conspiring to rig Libor.

Consumer protection groups opposing the Office of the Comptroller of the Currency’s plan to offer limited-purpose bank charters to fintech companies raised concerns that the move could allow payday lenders to operate nationally.

Banks and credit unions are trying to stop the Consumer Financial Protection Bureau from allowing consumers to rank how companies handle complaints on a one- to five-star scale.

Bankers are trying to stop the CFPB from allowing consumers to rank how companies handle complaints on a one- to five-star scale and to publish narratives of consumer experiences in an online public database.

The Senate Finance Committee will hold a hearing on Treasury Secretary-designate Steven Mnuchin’s nomination on Thursday, Jan 19.