The $75 million deal between the megabank and the U.S. Virgin Islands includes various commitments, such as terminating customers' accounts if there is credible information that the accounts are involved in human trafficking.

The indictment of Sen. Bob Menendez, D-N.J., is inconvenient for some Democratic priorities, but unlikely to impact a cannabis banking bill up for debate in the Senate Banking Committee.

(Bloomberg) — The US government is hurtling toward an Oct. 1 shutdown as Senate leaders and House moderates work to try to at least shorten a disruptive federal funding lapse.

The indictment of Senate Banking Committee member Bob Menendez, D-N.J., on bribery and corruption charges may not have a lot of impact on banks' near-term legislative priorities, but it is emblematic of a deeper struggle to preserve the rule of law.

The Securities and Exchange Commission — which charged Coinbase this year with operating as an unregistered securities exchange, broker and clearing house — says Coinbase Global's proposed involvement in Celsius Network's plan to emerge from bankruptcy raises many of the same concerns as those in the agency's lawsuit.

Each of the 11 Federal Home Loan banks will be sent a supervisory letter and an advisory bulletin on bank credit risk from their regulator the Federal Housing Finance Agency, according to a report from the FHFA's Office of Inspector General.

The lawsuits alleged that banks including Bank of America and Goldman Sachs — acting as remarketing agents on the securities — failed to get the best rates for issuers.

Federal Reserve Board Gov. Lisa Cook said artificial intelligence holds great promise for the economy, but stressed the importance of human choice in decision making, both financial and otherwise.

Recordkeeping lapses lead to fines as looming government shutdown threatens SEC workload.

Federal Reserve Gov. Michelle Bowman, who has emerged as a leading opponent to the central bank's recent efforts to raise capital requirements, said it was "absolutely imperative" that banks make their concerns heard.

The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.

Federal Reserve officials have asserted that stablecoin regulation is necessary and within their jurisdiction. Observers say the central bank's crypto guidance and policies governing master accounts offer blurry visions of what shape such regulation might take.

The Consumer Financial Protection Bureau proposed major changes to the Fair Credit Reporting Act, including eliminating all medical debt from credit reports. But banks and financial firms said the plan would upend 50 years of how courts have interpreted the law.

If confirmed to the National Credit Union Administration, Otsuka would succeed Rodney Hood and become the board's first Asian American member.

The Federal Deposit Insurance Corp. Board's Vice Chair Travis Hill urged his fellow regulators Thursday to delay implementing new banking regulations until interest rates stabilize, saying rushed rules amid precarious economic conditions could impact consumer lending.

The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry. The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue.

Federal Reserve Chair Jerome Powell said today's high mortgage rates are dissuading some would-be sellers from putting their homes on the market, further limiting lending opportunities in an environment already constrained by low inventory

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said Wednesday he wants to see tailored enhanced prudential standards and increased reporting requirements for specific nonbank financial institutions like open-ended mutual funds, hedge funds, and nonbank lenders, citing their potential systemic risks and the need for improved oversight.

Rep. Andy Barr, R-Ky., chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, continued to say that the Basel III rulemaking might have violated the Administrative Procedures Act