The Credit Union National Association joined forces with the Independent Community Bankers of America on a letter to the Financial Accounting Standards Board urging changes to a proposal to alter how financial institutions establish reserves for loan losses.

More loans mean more profit, but they also mean more paperwork, more underwriting and more chances for things to go wrong if the CU doesn’t have the bandwidth to handle the load.

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.

The agency's updated regulation gives credit unions new flexibility—a flexibility that a number of performance metrics suggest the industry can handle, according to the regulator's historic data.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency Wednesday.

Consumer Financial Protection Bureau head Richard Cordray faced a barrage of hostile questioning from members of Congress, who hammered him over everything from payday lending to regulatory relief for small financial institutions.

Lawmakers sharply criticized the Federal Deposit Insurance Corp. on Wednesday over a watchdog report that said the agency used abusive tactics to stop banks from offering refund anticipation loans.

In what has become almost a grim ritual, Consumer Financial Protection Bureau director Richard Cordray faced a barrage of hostile questioning from Republican members of the House Financial Services Committee, who hammered him over everything from payday lending to regulatory relief for small banks.

Federal Reserve Chair Janet Yellen said Wednesday that the raft of rules and regulations brought on by Dodd-Frank and other international agreements since the financial crisis have made the banking sector and the public safer, but she said work to make those changes apparent to the public is continuing.

The chairmen of the House and Senate banking committees appear to agree that banks that hold higher capital should get a significant break on other regulatory requirements. But the odds of enacting a bill this year remain long.

The Wisconsin Senate passed a bill Wednesday regarding the regulation of credit unions that had previously received the support of the Wisconsin Credit Union League.

Regulator says it also continued multi-year effort to 'create and maintain a modern regulatory structure' that allows CUs to evolve and grow, as well as address emerging threats and risks to the system.

The Federal Reserve recently announced that it had released five community banks from enforcement actions.

MasterCard Inc., the second-largest U.S. payments network, received a finding of violation from the Treasury for failing to report accounts held by two Iranian banks that were placed on a list in 2007 that prohibits U.S. entities from dealing with them.

MasterCard received a finding of violation from the Treasury for failing to report accounts held by two Iranian banks that were placed on a list in 2007 that prohibits U.S. entities from dealing with them.

The Consumer Financial Protection Bureau on Tuesday asked a federal court to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

The Federal Housing Administration said Tuesday that it has revised its proposed lender certification requirements in an effort to provide more clarity and reassure lenders they won't be penalized for minor loan defects or mistakes.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

The Federal Deposit Insurance Corp. approved a final rule Tuesday that will reconfigure bank assessments once federal reserves reach a statutory threshold.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.