Politics

The president urged Congress to pass a law that would reduce credit card late fees to $8.

The Federal Reserve's top regulator says discriminatory practices of the past still have an impact today and calls on banks and their supervisors to be more vigilant.

Bank of England and the U.K. Treasury stepped up work on creating a digital currency to sit alongside physical banknotes and sought to allay concerns that the work could threaten the stability of banks.

One of Germany's greenest banks has quit the world's biggest climate-finance alliance in protest, citing concerns that Wall Street is preventing the group from achieving its stated goal.

Without proper oversight of cryptocurrency exchanges, we will continue to see hucksters and dilettantes making off with customers' funds.

Republicans have increasingly negative views of banks, while the banking industry is finding modest, but growing common ground with Democratic lawmakers.

A core issue in the upcoming fight over late fees involves what data is being collected on card issuers' costs and losses associated with late payments.

Pointing to an FDIC policy change in 2020, regulatory experts say it's time for the agency to revisit what constitutes a brokered deposit.

The Federal Reserve Chair urged Congress to raise the debt ceiling, warning the impacts of not doing so could go beyond the central bank's ability to mitigate.

House Financial Services Committee Chairman Patrick McHenry, R-N.C., said that if legislation would increase spending, lawmakers need to offset that spending within the committee's jurisdiction.

Federal Reserve officials quietly tightened internal restrictions on employees' political activities after several reserve banks ran afoul of Congress over real or perceived engagement on issues within the domain of elected officials.

The group, led by Senate Banking Chairman Sen. Sherrod Brown, said nonperforming loans sold to single family housing rental businesses or private equity firms results in the displacement of homeowners.

Consumer Financial Protection Bureau Director Rohit Chopra plans to propose a rule to set late fees at reasonable levels and no longer peg late fees to inflation.

The Nebraska Bankers Association says legislation to prevent the state treasurer from depositing public funds in banks that would use them to fund environmental or social causes is "too vague."

Sens. Elizabeth Warren, D-Mass.,  Roger Marshall,  R-Kan., and John Kennedy, R-La., asked Silvergate if the bank knew about FTX's alleged misuse of customer funds.

The bill would lower the number of required meetings for credit union boards of directors, and passed via a voice vote.

The Consumer Financial Protection Bureau's data-access rule could create an uneven playing field because banks and credit unions are examined by regulators but hundreds of nonbank fintechs are not.

The current president, Esther George, is set to leave office on Jan. 31. The reserve bank's search committee has no deadline for finding a full-time successor.

The Federal Reserve Bank of Kansas City's decision comes just hours after the Federal Reserve Board of Governors blocked the digital asset bank's bid to become a member bank.

Treasury Secretary Janet Yellen said the only solution to avoid a U.S. default crisis is for Congress to increase the federal debt limit, avoiding engaging with other proposed stopgap measures including short-term extensions or spending cuts.