Barr gave up his prestigious position as the Federal Reserve vice chair for supervision. In keeping his seat on the Board of Governors, he may have strengthened his hand in shaping banking regulation.

Acting Comptroller of the Currency Michael Hsu reflects on his tenure, the challenges of financial regulation, and the delicate balance of fostering innovation while maintaining trust in the financial system.

The Consumer Financial Protection Bureau finalized a rule that will remove medical  bills from credit reports to end what the bureau called "coercive debt collection practices."

An appeals court ruled that online lender CashCall had waived its right to a jury trial and that its other challenges "lack merit," in a lawsuit filed by the Consumer Financial Protection Bureau in 2013.

In his letter of resignation, Federal Reserve Vice Chair for Supervision Michael Barr said an attempt by the Trump White House to remove him could create a "distraction" for the Fed. He plans to retain his seat on the Board of Governors, which expires in 2032.

In the year ahead, financial services regulatory agencies should take the opportunity to pull back from ideology-driven supervisory decisions and embrace a fact-based approach that will boost the U.S. economy.

A recent industry survey finds most participating banks predict asset growth for 2025; Frax Finance launches a new stablecoin backed by BlackRock; Camden National closes its acquisition of Northway Financial; and more in this week's banking news roundup.

The future of bitcoin isn't a winner-takes-all scenario where it either replaces the existing financial system or fails entirely. Instead, it's evolving into a multifaceted financial technology.

The president-elect has announced members of his senior leadership team at the Treasury, who'll work alongside Scott Bessent, his pick for secretary.

After the U.S. government alleged that the cash-advance app doesn't make the cost of "tipping" clear to customers, the Los Angeles-based company said it would implement a new business model in early 2025.

The Consumer Financial Protection Bureau has sued some of the largest U.S. corporations and banks before the changeover to the Trump administration later this month.

With Securities and Exchange Commission Chair Gary Gensler preparing to step down, the CEO of Unicoin, which is being sued by the agency, expresses hope for more acceptance of cryptocurrencies by the incoming Trump administration.

The department was notified December 8 by third-party software provider BeyondTrust that a hacker had gained access through a tech support service.

Bankers expected big changes for community banks, digital assets and regulation. Were they correct?

These banks are expected to draw regulatory scrutiny in the coming year. 

A passivity agreement with the FDIC means that when the asset management giant Vanguard owns more than 10% of an FDIC-overseen bank, it can't seek certain levels of control over the bank's behavior.

The tiny community bank handled hundreds of millions of bulk cash shipments from Mexico without red-flagging any of them, the agency said. The bank has filed a motion to dismiss.

Banking regulators hit companies with penalties for poor interest-rate risk, third-party management, anti-money-laundering controls and consumer protection, among other violations.

The president-elect's history of deregulatory financial services policies could offer some benefits to minority businesses and consumers, but the more likely outcome is reduced access to capital and higher costs.

Banks such as TD, Wells Fargo and Bank of America drew attention this year for money-laundering issues. That's one of several top regulatory news items in 2024.