Politics and policy
Politics and policy
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Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.
June 26 -
The Federal Reserve attributes the uptick in simulated losses in this year's stress test examination to heightened risks on bank balance sheets and higher expense levels. Credit cards and corporate lending were top areas of concern for the central bank.
June 26 -
The bankruptcy of fintech middleware provider Synapse has left thousands of customers unable to access their savings, with seemingly no one empowered to put it back in their hands. Regulators and lawmakers need to do something about it, but first they need to talk about it.
June 25 -
Customers caught up in the Synapse bankruptcy are met with deafening silence from Washington as they discover their savings — or what is left of them — are held in accounts that fall between the cracks of the bank regulatory apparatus.
June 24 -
A plan reportedly being floated by the Federal Reserve would reduce the top-line capital raise for the biggest banks by as little as 5% — down from 16% in the original proposal from last July.
June 24 -
The Consumer Financial Protection Bureau's attacks on credit card reward programs don't square with the fact that the vast majority of consumers are very satisfied with their service.
June 24 -
The Federal Reserve and the Federal Deposit Insurance Corp. found shortcomings in the living wills of Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase, although the FDIC deemed Citi's resolution plan as "deficient."
June 21 -
The two divisions — one focused on employee conduct, the other aimed at improving hiring practices — were created in response to last month's explosive report on widespread harassment and discrimination at the Federal Deposit Insurance Corp.
June 21 -
The Senate Banking Committee will consider the nomination of Christy Goldsmith Romero — the administration's pick to take over the Federal Deposit Insurance Corp. — on July 11.
June 21 -
New York Department of Financial Services' guidance advising banks and insurers to avoid doing business with the NRA was ruled as likely to be unconstitutional by the Supreme Court. Why is it still on the department's website?
June 21