Policymakers repeatedly said during a Senate Banking hearing Tuesday that Wells' mistakes couldn't be blamed — as the company maintains — just on rogue employees. Instead, they see a cultural problem at the San Francisco bank and wonder whether it extends beyond Wells Fargo.

Credit union analysts are skeptical of the chances for CFPB reform following the Wells Fargo fiasco, but they are also optimistic that it could spur another Bank Transfer Day-style opportunity for CUs.

The fallout from the banking giant's fraudulent practices has some wondering whether or not CUs might be wise to reexamine their own cross-selling strategies.

John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming scandal, but his harsh questioning by lawmakers — and his struggle to answer many of their questions — suggests that the embattled megabank's problems are just beginning.

Policymakers repeatedly said during a Senate Banking hearing Tuesday that Wells' mistakes couldn't be blamed — as the company maintains — just on rogue employees. Instead, they see a cultural problem at the San Francisco bank and wonder whether it extends beyond Wells Fargo.

Wells Fargo Chief Executive John Stumpf was relentlessly questioned by lawmakers for nearly three hours Tuesday about what he knew of phony account openings and whether the bank would punish senior executives in what was arguably the worst hearing for a bank executive since the financial crisis.

Contrary to expectations about growing mortgage lending volumes, current industry trends suggest a gradual reduction in capacity for both lending and servicing that should alarm policymakers.

Credit union regulators from 30 jurisdictions around the world have registered an independent association called the International Credit Union Regulators' Network.

Virtual currency advocates are hoping a recent surge of support in Congress can help them accomplish a long-sought goal of creating a safe-harbor for companies that do not directly hold customers' funds.

Streamlining quarterly reporting is part of NCUA Chairman Rick Metsger's ongoing efforts at "Continual Quality Improvement," but trade associations say the regulator should go further.

A top CFPB official said Monday that lenders have adjusted their business models and practices to comply with new rules, while MBA CEO David Stevens called on the Federal Housing Administration to clarify its underwriting standards.

Compensation rules mandated by Dodd-Frank are a potential tool to make executives accountable for misconduct like the Wells Fargo scandal, if regulators are willing to use it.

At the start of its fourth decade, the Automated Clearing House — a payment method most commonly known for facilitating payroll direct deposits — has found itself firmly in the crosshairs of the card networks and alternative payment providers.

A union-led coalition is seizing the opportunity presented by the firing of 5,300 workers at Wells Fargo to call for higher pay and better working conditions for branch employees.

WASHINGTON — Sen. Bob Corker, R-Tenn., dismissed calls Monday by a group with alleged ties to hedge funds to recuse himself from a hearing this week probing the recent enforcement action against Wells Fargo.

Steve Eisman, who profited from the mortgage meltdown, tells an industry crowd why he thinks the financial system is safer under Dodd-Frank, why Silicon Valley is "clueless" about lending and what the next "big short" will be.

Contrary to their stated goals, the Fed's post-crisis regulatory and monetary policies may be contributing to U.S. income and wealth inequality, according to a new paper based on academic research from the Federal Reserve and foreign regulators.

All eyes will be on Well Fargo Chief Executive John Stumpf on Tuesday as he fights to defend himself before a Senate Banking Committee hearing against charges that he and other top bank executives should have earlier detected and stopped millions of phony accounts from being opened.

The 2016 election cycle has been anything but ordinary, and donations from financial institutions’ political action committees (PACs) have followed a similarly erratic trajectory this year.

Troy Leach, chief technology officer for the PCI Council, sat down with PaymentsSource to reflect on the council's performance to date and where it is headed in the coming years.