Internet-based banks are siphoning deposits away from urban centers in the U.S. and, unlike brick-and-mortar banks, face no requirement that they loan money back into those communities.

The Treasury Department's Community Development Financial Institutions Fund has introduced significant updates to the CDFI certification application, aiming to simplify the process and establish clearer standards for responsible lending and community development.

The decision means the six largest Canadian banks will enter 2024 with the requirement to hold Common Equity Tier 1 capital of at least 11.5% of risk-weighted assets.

The deadline for compliance with the Securities and Exchange Commission's new cyber disclosure regulations is coming. Banks need to be ready.

A provision to standardize and clarify banks' operational risk obligations — which opponents say is excessively costly and may not be effective — is emerging as the focal point of the public debate on the broader rule. It may also be the key to taking the rule over the finish line.

Led by Senate Banking Committee ranking member Tim Scott, R-S.C., GOP members of the Senate Banking Committee say they have concerns about Federal Deposit Insurance Corp. Chairman Martin Gruenberg's leadership ability.

The bank in Richmond, Virginia, failed to properly disclose its overdraft practices to roughly 8,500 consumers who enrolled by phone or in branches from 2017 to 2020, according to the Consumer Financial Protection Bureau. The company admitted no wrongdoing.

The district judge upheld the state's regulations mandating that nonbanks disclose the annual percentage rate, finance charges and fees on financings of $500,000 or less.

The fireworks that traditionally accompany big bank CEOs' appearances in Congress were absent Wednesday, but instead executives pushed their opposition to the Basel III capital rules and its impact on the economy. 

The OCC advises banks to implement robust risk management strategies for BNPL lending, emphasizing transparent loan terms, fraud mitigation and compliance with consumer protection laws.

Technology representatives from the six federal agencies testified in a House Financial Services fintech subcommittee hearing Tuesday.

A report by the Roosevelt Institute argues that risks posed by imitation banks, online shadow banks mimicking traditional institutions can only be fully mitigated by an act of Congress.

The North Carolina-based bank is considering the idea of selling a portion of its securities portfolio as a way to build capital, CEO Bill Rogers said Tuesday. At the end of the third quarter, Truist's securities were worth about 20% less than what the company paid for them.

The passage of a Congressional Review Act resolution to rescind the Consumer Financial Protection Bureau's small-business data collection rule may be only symbolic, but the rule is designed to detect and stop discrimination — something everyone should support.

FedNow will transform payments in the U.S., but its adoption might speed up if the Fed adopts some of the strategies Brazil used to roll out its Pix platform.

The number of government-backed home loans transferred from one borrower to another is up significantly this year as prospective buyers look for ways to avoid elevated interest rates. Some say this is the beginning of a larger movement, but others say regulatory hurdles will get in the way.

The two companies announced the deal more than a year ago and had anticipated closing it in the first half of 2023. But advocacy groups have urged regulators to withhold approval, arguing that it will hurt consumers.

United Federal Credit Union plans to enter the state through a merger next year, and that could be a problem for Keystone-state banks and credit unions that are already struggling to grow.

In reality, central bank digital currencies would provide only some of the benefits of a real cryptocurrency and would have numerous drawbacks.