With the introduction of FedNow, the Federal Reserve is out of good reasons not to mandate that banks process payments by the fastest means available.

A report by the Public Company Accounting Oversight Board raised concerns about declining audit quality across the accounting industry for a second consecutive year. The report found instances of firms using insufficient testing and inadequate support for audit conclusions.

The Office of the Comptroller of the Currency levied the civil money penalty against American Express National Bank for failing to implement adequate call-monitoring controls and track customer complaints with a third-party affiliate.

Evidence from the implementation of the 2009 CARD Act shows that warnings about higher interest rates and other unintended consequences don't square with reality.

Bankers say it isn't a crazy notion for a bank to charge multiple NSF fees on the same transaction because merchants often resubmit transactions for payment a second time, and the bank has no way of knowing if or when that happens.

The U.S. division of the Swiss bank will have to pick up the tab for its one-time rival, which it acquired in a government-brokered deal earlier this year.

The regional bank told analysts that it has studied how much debt it would need to raise based on an effective post-reform capital floor of 6% of risk-weighted assets, and has determined that that increase in capital would be manageable.

The Federal Reserve Board of governors will discuss the much anticipated capital changes on Thursday afternoon.

The Minnesota Bankers Association and Lake Central Bank jointly filed a lawsuit against the Federal Deposit Insurance Corp. over its nonsufficient funds fee rules' inclusion of "unfair or deceptive acts or practices" violations in its policy.

A U.S. senator claims that proposed new rules would allow bank supervisors to oust bank executives over things as vague as "climate risk" standards.

The National Credit Union Administration voted unanimously to make it easier for boards of directors to ban problematic members.

The Crypto-Asset National Security Enhancement and Enforcement Act would increase regulatory oversight of cryptocurrencies traded on public blockchains and guard against money laundering and sanctions evasion, particularly by holding the largest crypto investors accountable for compliance.

Both Senate Banking Committee Chairman Sherrod Brown, D-Ohio, and ranking member Tim Scott, R-S.C., said they would consider what reforms "if any" are necessary post Silicon Valley Bank failure.

The Federal Reserve says its findings related to "unsafe and unsound practices and violations" of previous agreements with the central bank related to the lender's prior relationship with the Estonian branch of Danske Bank.

Cincinnati-based Fifth Third Securities is the seventh firm charged by the Commission for failing to comply with the appropriate disclosures in connection with the limited offering exemption.

The Small Business and Entrepreneurship Committee voted nearly unanimously to advance a bill that would halt a plan by the Small Business Administration to open up some of its loan programs to fintech companies.

The launch of FedNow, the Federal Reserve's instant-settlement system, raises many questions for banks, card networks and fintechs regarding costs, routing and other concerns.

Officials at the central bank have been discussing a real-time payment system for a decade. Work on FedNow began in 2019.

This is no time to haphazardly pile financial regulation and additional costs on an American economy that seems otherwise set to avoid the catastrophes predicted just last year.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, weighed in on credit card late fees, an upcoming open banking rulemaking and the chaos that could result if the Supreme Court defunds the agency.