Policymaking

Neglecting to appoint a full-time director could shortchange efforts to improve the bureau’s transparency and undertake other needed reforms.

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.

Blackwell, the longtime Washington bureau chief, will succeed Marc Hochstein, who is leaving the company in September.

It is reasonable to rethink the role of state usury laws in national credit markets, but there should not be any erosion of consumer protections.

Republicans are already accusing CFPB Director Richard Cordray of misusing his job as a fundraising platform while many agency allies want him to stay.

With the deadline for a federal-debt-limit renewal nearly a month away, bankers are dreading the prospect of higher funding costs, strained liquidity, weaker commercial loan demand and other ramifications if Washington does not act.

The Office of the Comptroller of the Currency issued a proposal Wednesday that would raise the appraisal threshold for CRE loans to $400,000 from $250,000.

Not only did Walmart's bid for an industrial loan company galvanize bankers, it also turned the ILC world upside down.

The banking industry had mostly good news in the FDIC's Quarterly Banking Profile, with higher profits helped by interest income. But there were worrying signs too, including a big jump in credit card chargeoffs.

Contrary to the view of some, technology has not rendered the Community Reinvestment Act obsolete. But everyone seems to agree that it should be reformed.

Higher net interest income and modest growth in expenses helped boost bank earnings by 10.7%, the FDIC said in its Quarterly Banking Profile.