A coalition of financial trade groups issued a joint comment letter asserting that the federal bank regulators' proposed capital rule lacked justification and evidence required by the Administrative Procedure Act, threatening legal action if regulators don't delay and significantly amend the rule.

Led by Congressmen French Hill and Stephen F. Lynch, the council will explore how artificial intelligence is influencing the development of new products and services, fraud prevention and other areas across the financial services and housing industries.

Navy Federal, the nation's largest credit union, is facing a lawsuit about its allegedly discriminatory mortgage lending practices.

While stablecoins do find utility as a base currency for navigating between volatile cryptocurrencies, their broader application as a fiat money alternative remains elusive.

The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.

The internal watchdog called for new standards for staff handling of controlled unclassified information.

In a string of enforcement actions issued Thursday, the Federal Reserve barred one former banker from the industry for misappropriating confidential supervisory information and fined three others for misappropriating internal bank records.

Surging interest rates, recession threats and weaker stock valuations bogged down merger-and-acquisition activity last year. The 98 announced deals fell short of even 2020, when the pandemic briefly brought the economy to a standstill.

The Senate on Wednesday fell short of the two-thirds majority needed to override President Biden's veto in December of a Republican-led resolution to gut the small-business data collection rule using the Congressional Review Act.

Like a ratchet, price controls in the payments industry move only one way, destroying value and reducing incentives for innovation.

Citigroup recorded a $1.3 billion reserve build tied to its exposure in Argentina and Russia, it said in a filing.

In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.

Former Trump Labor Secretary Eugene Scalia has been enlisted by the Bank Policy Institute to utilize his procedural expertise in advising on potential legal challenges to the Basel endgame capital proposal, as the banking industry intensifies efforts to challenge increased capital requirements for large banks.

Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.

The CFPB's plan to block medical debt from appearing on credit reports will have damaging unintended consequences, limiting consumer access to both credit and health care.

With the retirement of Rep. Blaine Luetkemeyer, R-Mo., the number of Congressional representatives with direct banking experience is becoming increasingly rare.

The legislation is the latest step in California's effort to crack down on high-cost small-business loans.

Treasury Secretary Janet Yellen said Monday the agency's Financial Crimes Enforcement Network has received over 100,000 entries for its beneficial ownership information registry, and will set additional regulations to address money-laundering risks in real estate transactions early this year.

BlackRock, Ark and several other prospective issuers of exchange-traded funds investing directly in bitcoin in the U.S. filed amended forms for their applications with the Securities and Exchange Commission.

Banks need to mount an aggressive legal response to the onslaught of intrusive new rules being promulgated by their prudential regulators.