The German bank's New York branch was entangled with U.S. regulators and law enforcement agencies for more than a decade in connection with money laundering and sanctions violations.

We have the tools to address our housing challenges through a mix of regulatory reforms, policy changes, incentives and investment. What's needed is the will and leadership to put those tools to work.

Under guidelines proposed this month, credit unions would see changes in the quality standards for computer-generated appraisal systems, along with when and how financial institutions and consumers can request reconsiderations of value.

FDIC Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.

The Bank of Lithuania said it will start bankruptcy proceedings against Payrnet and intends to ask authorities to investigate possible criminal offenses. 

The bank's $4.6 billion commitment is smaller in size and shorter in duration than a previous plan. It also pledged $9 billion to sustainable finance initiatives over the next three years.

The chairman of the Federal Reserve told the House Financial Services Committee that no decisions have been made about regulatory changes, but whatever does come to pass will take time to implement.

Philip Jefferson, a current Federal Reserve Board member, is President Biden's nominee to be vice chairman of the central bank. At a Senate hearing, he gave measured responses to questions about the potential for heightened regulation of midsize banks.

Barefoot, co-founder of the Alliance for Innovative Regulation, works to help regulators innovate. She is one of American Banker's most influential women in fintech.

Longstanding factors such as the share of local deposits held by each bank will no longer be the main considerations in determining the competitive effects of a deal, said Assistant Attorney General Jonathan Kanter. His speech was interpreted as a hint that banks seeking merger approvals could face tougher times ahead.

Federal Reserve Vice Chair for Supervision Michael Barr said he is overseeing a six-month project to overall supervisory culture, practices, behavior and tools. He said regulatory changes will also be explored.

Banks and credit unions have come out against the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, saying that figure is too low to cover costs. Finding a more suitable number might save the bureau a lot of trouble.

The state where the first U.S. credit union opened in 1909 reported fewer members in the first quarter compared to a year earlier, due in part to the competitive threat from banks.

The Federal Reserve will now disclose all entities that have access to its payments system, as well as those that are seeking access. The move ends a yearlong standoff with Congress.

The Consumer Financial Protection Bureau plans to issue a larger participant rule that would allow the agency to examine consumer payment markets. The rule will allow the CFPB to examine and supervise Big Tech companies such as Apple, Alphabet's Google, PayPal and Square.

House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., pressed the Financial Stability Oversight Council on the resurrection of its ability to designate nonbanks as systemically important.

For years, the Japanese-owned bank engaged in deception with respect to three different kinds of fees, regulators found. U.S. Bank inherited the liability when it acquired MUFG Union last year.

The Alabama bank, which has been sanctioned by regulators for its overdraft practices twice in the last eight years, joins several competitors that already offer a grace period to overdrawn customers.

All 12 regional Federal Reserve banks released financial information from their presidents on Thursday, including new errors that Federal Reserve Bank of Atlanta President Rafael Bostic acknowledged. Such disclosures have taken on increased significance after a slew of scandals in recent years.

The Federal Reserve chair said that as the Treasury replenishes its general account at the Fed, it will lead to fewer reserves in the banking system.