The Consumer Financial Protection Bureau celebrates its 12th anniversary on Friday, prompting Director Rohit Chopra to discuss the agency's work including a proposal to set credit card late fees at $8 and the upcoming Supreme Court case that could defund the bureau.

The Buffalo, New York, bank said that share repurchases are off the table, even though the amount of incremental capital it's required to hold has declined from last year. Executives pointed to forthcoming revisions to risk-based capital rules, which are expected to hit midsize banks like M&T.

Two of the three midsize banks that failed this spring were unprepared to access the Federal Reserve's discount window, limiting regulators' ability to inject cash at a pivotal moment. Regulators say that experience should be a wake-up call.

The Financial Conduct Authority is developing new rules that tighten how financial firms can use social media, Swift and a group of banks have successfully piloted instant payments between different countries and currencies, and more.

Both parties agree the registry's rules need to be more targeted, while Democrats decried a Republican push to cut the agency's funding.

The House Financial Services Committee held a subcommittee hearing with senior staff from banking agencies, while the oversight branch of the panel questioned some large banks on their ESG efforts in asset management units.

U.S. regulators are examining how consumers finance health care spending, looking at practices used by Synchrony Financial's CareCredit unit and its competitors. But Synchrony CEO Brian Doubles said he's "very proud" of CareCredit, while downplaying the unit's involvement in the medical sector.

The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.

Republicans have urged the Supreme Court to gut the Consumer Financial Protection Bureau by tying its funding to appropriations. But regulatory experts say that a ruling against the CFPB would threaten the funding of other similarly structured agencies including the Federal Reserve Board, the Farm Credit System and other regulators that are funded through fees or assessments.

Such concerns have taken on new importance with recent advances in artificial intelligence tools, which are "the most transformative technology of our time," Securities and Exchange Commission Chair Gary Gensler says.

Consumer Financial Protection Bureau Director Rohit Chopra will engage in informal talks with Didier Reynders, the European Commission's commissioner for justice and consumer protection, on artificial intelligence, buy now/pay later and digital payments.

Next week, the House Financial Services Committee will discuss bank regulator oversight bills, including one that would remove the Federal Reserve's Vice Chairman for Supervision position.

If regulators push forward with plans to strengthen capital requirements for banks with more than $100 billion of assets, the nation's largest bank says, the cost of credit would rise and more consumers could seek out nontraditional lenders.

The SEC chairman's power grab is driving the crypto industry out of the U.S. Eventually, the courts will find that he has exceeded his authority.

The acting Comptroller of Currency Michael Hsu sits down for an in-person interview with American Banker.

The lawsuit against Prehired involves a relatively new product that consumer advocates say is akin to a student loan — and should be subject to far more protections.

Gacki, who has served since 2019 as director of Treasury's Office of Foreign Assets Control, will replace acting Fincen Director Himamauli Das. Her appointment comes as the Biden administration seeks to enforce sanctions against Russia and implement rules aimed at identifying undisclosed shell company owners.

The longtime chief executive of the Federal Reserve Bank of St. Louis will leave his post after 15 years to take an administrative position at Purdue University.

Five organizations representing large banks sent a letter to Federal Reserve Chair Jerome Powell requesting a long and thorough public review process for rule changes that are expected to be rolled out this summer.

A federal judge ruled that the Ripple Labs token is a security when sold to institutional investors but not the general public, a long-awaited decision that was widely hailed as a victory for the crypto industry over the SEC.