Wells Fargo’s reputation as a consumer-friendly bank suffered a significant blow Thursday after it agreed to pay $190 million to settle charges that thousands of employees created unauthorized bank and credit card accounts for customers in order to collect bonuses for themselves.

In response to industry comments, the Federal Reserve said it would follow notice-and-comment procedures when exercising its countercyclical capital buffer authorities – a process whereby the biggest banks would hold an additional capital cushion to counteract overheated markets.

CU trade groups have generally praised Jeb Hensarling's Financial Choice Act, though some analysts say it has little chance of becoming law.

The National Credit Union Administration announced a series meant to educate credit union board members on the “fundamental” concepts of strategic planning.

A rising number of banks are looking to become community development financial institutions, emboldened by low-cost capital and an exemption from the ability-to-repay rule.

Wells Fargo has agreed to pay $187.5 million to settle claims by federal regulators that the megabank wrongfully opened unauthorized bank and credit card accounts for more than 2 million customers.

Wells Fargo has agreed to pay $187.5 million to settle claims by federal regulators that the megabank wrongfully opened unauthorized bank and credit card accounts for more than 2 million customers.

Without incentives to shoot higher, banks usually settle for "Satisfactory" on their Community Reinvestment Act exams, but many find that not getting a better grade has consequences.

Trade groups cheered NCUA’s long-awaited announcement of public budget hearings.

The trade group challenged the NCUA's member business lending rules enacted in February, but also hinted that it is prepared to file another lawsuit should the agency move forward with a separate regulation that would expand credit unions' field of membership.

The Federal Reserve’s structure and makeup – and even geographical locations – drew criticism from members of Congress and the public as favoring the wealthy and ignoring the conditions of ordinary Americans

The Federal Reserve’s structure and makeup – and even geographical locations – drew criticism from members of Congress and the public as favoring the wealthy and ignoring the conditions of ordinary Americans

Making good on threats it had made previously, the Independent Community Bankers of America filed suit Wednesday against the National Credit Union Administration, claiming the agency's recent overhaul of its member business lending rules violate two different laws.

Fintech is transforming consumer financial services, but automation and data innovation can also help banks meet their growing regulatory demands.

U.S. prosecutors are considering a criminal charge against a unit of HSBC Holdings Plc related to conduct on its foreign-exchange desk, according to two people familiar with the matter, imperiling an earlier deal that let the bank avoid prosecution.

Banks, Wall Street critics and regulators are angling to define whether the leverage ratio should be a backstop or a binding constraint for the biggest banks – a debate that could be among the most urgent in the post-Obama regulatory landscape.

Credit unions and their trade associations are ramping up advocacy efforts the Capitol Hill as Congress returns to Washington after a seven-week recess.

State regulators' resistance to the idea of a national fintech charter is not surprising, but state-by-state regulation imposes heavy burdens that reverse the cost savings and expanded reach available through fintech.

These are S&P's first-ever ratings for CUNA Mutual.

Though no legislation is likely to pass prior to the election, lawmakers will be busy throughout September with hearings featuring top Federal Reserve Board officials and voting on a much anticipated financial reform bill. Here are five things to keep an eye on: