Politics

New app-based programs resemble payday loans, often trapping users in a pattern of fee-based transactions while demanding "tips" that cost some consumers hundreds of dollars per year.

What was once a bipartisan and broadly popular housing bill has been weighed down with a pair of provisions that banks can't support. Even with those headwinds, the bill is more likely than not to pass, but not without drawn-out negotiations between the House and Senate.

Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates.

Republican Sen. Josh Hawley repeated his long-standing criticism of Fair Isaac Corp. in a letter noting the detrimental impact of its prices on home buyers.

Speaking at the Digital Asset Summit, the Comptroller of the Currency argued that part of his goal in shifting the agency's posture toward the crypto industry is to allow smaller financial institutions to engage in novel technologies, which he said will keep banks relevant.

In a digital world, paper checks are an expensive, inefficient and unsecured vestige of the past. Bankers, regulators and policymakers need to come together around a strategy to eliminate their role in the U.S. financial system.

A federal judge said Friday that the Trump Organization will have three months to collect new evidence and refile its complaint. It alleges that Capital One illegally closed hundreds of its accounts following the Jan. 6, 2021, attacks on the U.S. Capitol.

The new executive order could add lender competition for self-employed borrowers, potentially via a small loan carveout and one for portfolio products.

Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.

The Trump administration hasn't formally charged Swalwell, Adam Schiff or Lisa Cook, while a federal court tossed a prosecution against Letitia James.

Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.

The reported reversal comes after the industry worried verifying citizenship would strain banks and push customers out of the system.

The Financial Crimes Enforcement Network is charged with protecting the U.S. financial system, but its failure to implement a whistleblower program authorized in 2022 leaves the agency unable to capitalize on a key source of intelligence.

Trading bitcoin and other cryptocurrencies is fine, but it's a sideshow: Blockchain is the underlying innovation that has the potential to change the way markets operate.

A first look at the capital plan suggests it moves the real estate finance industry closer to changes it lobbied for, but the devil may be in the details.

The Federal Deposit Insurance Corp. rolled back a 2009 policy that banned nonbanks from buying failed banks, a move the agency says aims to widen the bidder pool and cut failure costs.

Federal regulators issued proposals Thursday to implement the final elements of the Basel III accords, adjust the global systemically important bank surcharge and implement standardized approaches for risk-weighted assets. The changes would reduce capital requirements for banks of all sizes affected by the rules.

The SEC is reportedly preparing a proposal that would give banks and other companies the option to report their earnings every six months, adding urgency to a long-running debate over how firms communicate with investors.

The Office of the Comptroller of the Currency and 10 former officials filed amicus briefs that provide legal heft to banks battling the state of Illinois over a law that removes sales taxes and tips from interchange fees.

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.