Prosecutors claim that from 2018 through June 2022, Mashinsky "orchestrated a scheme to defraud customers of Celsius Network LLC and its related entities," according to the indictment unsealed Thursday.

Former Federal Reserve Vice Chair for Supervision Randal Quarles criticized his successor's plan to significantly increase capital requirements for big banks, saying it would needlessly hurt the economy.

Before a hearing in which Sen. Elizabeth Warren, D-Mass., said she would reintroduce legislation making it harder for large banks to merge, the Senate Banking Committee sent three Federal Reserve nominees to the full Senate.

A scorecard from the sustainable finance advocate Ceres found that federal agencies overseeing the financial system have adopted measures to account for climate-related financial risks but have not yet issued enforceable regulations.

The Securities and Exchange Commission and the Federal Reserve have questioned prime brokers about the basis trade as well.

Federal Reserve Vice Chair for Supervision Michael Barr outlined his view for new capital standards this week. But unlike prior reform pushes, this package lacks clear champions in Congress.

Voters so far are lukewarm on the president's efforts to change the narrative around his handling of the economy, but the administration's bid to win the economic messaging war could cause Washington to come down more harshly on banks.

Canada's banking regulator is proposing to make it more costly for lenders to accommodate mortgage borrowers who stretch out their loans in an effort to limit housing-market risks in the financial system.

The biggest of the big banks don't like the Federal Reserve's new vision for bank capital, but the changes will hurt their regional peers more. Once again, the advantage lies with the megabanks.

At a hearing Tuesday, consumer advocates called for a ban on deferred interest credit cards, and CFPB Director Rohit Chopra echoed their concerns. The agency signaled that actions to combat unfair fees in the medical realm could be coming soon.

The announcement resolves the final outstanding order between Capital One and prudential regulators over its 2019 cyber incident.

The Consumer Financial Protection Bureau ordered Bank of America to repay $100 million to customers who were charged multiple penalty fees when their accounts did not have enough money to cover payments, as well as those who did not receive the credit card rewards they were promised. The bank was also fined for opening a small number of accounts without customers' authorization.

The acting comptroller of the currency says regulators are aligned on rule changes, but noted that forthcoming policy proposals are being driven by more than just recent bank failures.

Federal Reserve Bank of San Francisco president Mary Daly insisted that supervisory failures that contributed to the downfall of Silicon Valley Bank were reflective of directives handed down from the Federal Reserve Board of Governors, and made the case for 'agility' in bank supervision.

In a speech Monday, Federal Reserve vice chair for supervision Michael Barr said the few banks that would have to raise capital under the final Basel III capital rules would be able to do so fairly quickly and without reducing dividends.

In a letter to Senate Democrats, Senate Majority Leader Chuck Schumer, D-N.Y., highlights executive compensation and cannabis banking as priorities for the caucus in the coming month.

House Oversight Committee chair James Comer, R-Ky., and financial services subcommittee chair Lisa McClain, R-Mich., asked Federal Reserve chair Jerome Powell for more information to aid their investigation into the failure of Silicon Valley Bank in March.

New regulations on small-dollar lending are leaving consumers with few viable options when they need emergency access to cash.

Organized criminals exploited the issue for several months in early 2022 before the company fixed the problem, according to the newspaper.

The proposal would bring companies cited for civil enforcement actions under its scope to bar them from doing business with the government-sponsored enterprises.