Critics argue the Federal Home Loan Bank System earned record profits last year and should provide a public benefit commensurate with the perks to members.

In a 31 to 20 vote, the House Financial Services Committee voted to advance a resolution disapproving of a Securities and Exchange Commission accounting bulletin that banks say would undercut their ability to custody crypto.

Six financial institutions may be placed on West Virginia's restricted list if they are found "boycott" the fossil fuel industry, Riley Moore said.

A White House executive order mandates that the Consumer Financial Protection Bureau and other federal agencies take steps to protect personal information from getting into the hands of "countries of concern." The CFPB is promising rules to rein in data sharing later this year.

Rep. Maxine Waters, ranking member of the House Financial Services Committee, led the letter, spurred by the recent merger announcement between Capital One and Discover, which the letter said would enable the merged company "to influence multiple points of the marketplace."

Federal Reserve Vice Chair for Supervision Michael Barr said in a speech Tuesday that banks might need to establish margin to counteract counterparty risks presented by private funds.

The lawmakers, led by Sen. Elizabeth Warren, D-Mass., said the deal would further anti-consumer bank consolidation, but also criticized the OCC's proposed changes to the merger process, asking that they be strengthened.

The Narrow Bank — a pass-through bank that first applied for a Federal Reserve master account in 2017 — is appealing an "ill-founded" December decision by the Federal Reserve to deny its application for a master account.

The agency's rule represents real progress, but applying it to more kinds of accounts and making other common-sense changes would increase its already significant benefits to consumers.

Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.