Fintech app Yotta filed a lawsuit against partner bank Evolve, arguing that it conspired with Synapse to misuse customer funds.

Agencies must now provide clearer justifications for their interpretations, while Congress needs to draft more precise legislation. The decision could empower banks to challenge agency rules more frequently and potentially prolong regulatory processes, with courts giving less deference to agency interpretations.

As Silvergate Capital filed for Chapter 11 bankruptcy protection, an executive said the company's crypto-friendly bank went down last year because regulators soured on its business model.

The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.

Only two de novo banks have opened in 2024, while more than 100 launched annually prior to the 2008 financial crisis. Experts don't agree on how to solve the problem.

Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.

Nothing less than a whole-of-government approach, in concert with the financial services industry, will be enough to address the spiraling cost of fraud to both businesses and consumers.

Nellie Liang urges regulators to consider adjusting leverage rules to boost liquidity during stress periods, including leaving central bank reserves out of supplemental leverage ratio calculations.

The Consumer Financial Protection Bureau issued guidance reminding banks that they must be able to prove that consumers have opted in to overdraft services in order to charge overdraft fees.

The Federal Deposit Insurance Corp.'s proposed rule aims to improve record keeping for custodial accounts, while the merger policy would increase regulatory scrutiny for combinations involving the largest banks.

Vice President and Democratic presidential nominee Kamala Harris' pitch for an "opportunity economy" is a sound political and economic vision. But banks must be a partner in making that vision into a reality.

The convergence of technology like blockchain with the continued evolution of rules and industry standards in traditional finance will shape the next era of market progress.

Sen. Elizabeth Warren, D-Mass., and Rep. Maxine Waters, D-Calif., said in a letter to the American Bankers Association and the Chamber of Commerce that the banking industry gets a "free pass" in Community Reinvestment Act examinations.

Tim Ryan, who joined the megabank in June, will work with COO Anand Selva to oversee enhancements to Citigroup's data integrity systems, according to a memo.

Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactive about avoiding them.

Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year's capital reform proposal. But how regulators will approach other reforms in light of that experience is uncertain.

A new OCC action over the megabank's anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank, is raising concerns that a broader crackdown is at hand.

Banks now have until Oct. 30 to weigh in on potential risks of third-party fintech partnerships for banking products and services.

Acting Comptroller of the Currency Michael Hsu's suggestion that regulators designate certain midsize regional banks as domestic systemically important banks could boost oversight but may also complicate the regulatory landscape, observers say.