Politics

Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.

District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.

In his nomination hearing, Jerome Powell was quick to assure Republican senators of his regulatory relief credentials. But Democrats still fear that he and other Trump appointees might upend the Dodd-Frank Act.

OMB Director Mick Mulvaney said he would "fix" the CFPB by ensuring it protected consumers without cutting off access to financial services. His comments came as a federal judge declined to rule yet on the legality of Mulvaney's appointment.

President Trump’s pick to head the Federal Reserve will face the Senate Banking Committee this week. Here’s what to watch for.

The most important policy question facing banking, brokerage and insurance companies is putting a framework in place that very quickly defines data ownership rights across the financial value chain.

CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director.

The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.

The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.

It was mostly good news for banks in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile, with higher earnings and net interest margins. But there were concerns as well, including slower loan and deposit growth.

The agency's Quarterly Banking Profile said banks earned $47.9 billion in the third quarter, helped by a 7.4% increase in net interest income from the previous year.

The banks fell in global regulators’ ranking of the institutions that pose the biggest threats to the financial system, and authorities recommended they face lower capital surcharges.

Legislation and regulatory policy that takes a heavy-handed view of overdraft protection could remove a safe and convenient option for consumers managing their finances.

Zions Bancorp. appears to have found a novel approach to escape the added requirements for banks above the Dodd-Frank Act's systemic $50 billion asset threshold, but other banks in a similar position are more likely to wait for Congress to address the issue rather than following suit.

Federal Reserve Chair Janet Yellen announced Monday that she intends to step down from the Board of Governors after her successor is sworn in when her term expires early next year, ending any speculation that she may stay on.

The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans.

Improving gender equality could significantly boost growth in advanced economies over the coming decades, according to Citigroup Inc.

The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.

Readers weigh in on the departure of Richard Cordray, debate whether online lenders are akin to subprime lenders, offer praise of a community banker, and more.

Mick Mulvaney, President Trump’s Office of Management and Budget director, is being considered for interim director of the consumer watchdog after Richard Cordray steps down and until a permanent pick is confirmed.