Regulation and compliance
Regulation
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Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20 -
The final rule also orders the government-sponsored enterprises to give advance notice of new activities to determine if they are subject to these procedures.
December 20 -
Recent clashes over how much investors should get paid when borrowers switch to a new benchmark are a small part of a much larger struggle by global regulators to shift markets away from the scandal-tainted London interbank offered rate.
December 20 -
In a joint review published Friday, the Federal Reserve and Federal Deposit Insurance Corp. found problems with two foreign banks' bankruptcy resolution plans.
December 20 -
In a sprawling consent order, the Consumer Financial Protection Bureau order cited mismanagement that extended from auto loans to mortgages and deposit accounts. Wells Fargo CEO Charlie Scharf called the agreement a critical milestone to "put these issues behind us."
December 20 -
The National Credit Union Administration must justify its sharply higher operating budget for next year.
December 20 -
Legislation to open banking services to marijuana businesses was left out of a must-pass government funding package, ending a year-end effort to move it to President Biden's desk, a person familiar with the decision said.
December 20 -
Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.
December 19 -
The Senate voted to confirm Martin Gruenberg as chairman of the Federal Deposit Insurance Corp., Travis Hill as its vice chairman and Jonathan McKernan to join the agency's board.
December 19 -
The loans for self-employed borrowers are getting a fresh examination to determine if they fall within the Consumer Financial Protection Bureau's updated guidelines for qualified mortgages, which went into effect in October.
December 19 -
The top U.S. financial regulators are worried about the prospect of deeper ties between digital-asset firms and Wall Street.
December 19 -
Investors are learning the hard way, again, that highflying new financial products, with little or no regulatory oversight, tend to crash.
December 19 -
The framework has little immediate impact in the U.S., where banks are broadly prohibited from crypto-related activities, but it establishes a baseline for future regulatory efforts.
December 18 -
The National Defense Authorization Act passed by the Senate did not include a pot banking provision, but did include provisions on Fed master accounts and allowing banks to hire ex-cons.
December 16 -
The National Credit Union Administration can no longer examine third-party vendors and service providers. That leaves the industry vulnerable to cybercriminals and other bad actors.
December 16 -
The National Credit Union Administration's spending frameworks were scaled back in certain areas in response to feedback from industry groups.
December 15 -
In a joint statement, the agencies said the public would have another month to respond to the various questions posed about living wills in October.
December 15 -
Texas lawmakers pressed finance industry executives they summoned to a remote corner of the state for a hearing Thursday, questioning whether their environmental, social and governance policies are hindering state pension investments.
December 15 -
The National Credit Union Administration board voted Thursday to advance a proposed rule that would loosen existing regulations and allow credit unions to purchase member loans from fintechs.
December 15 -
Amid testimony from Consumer Financial Protection Bureau Director Rohit Chopra in front of the Senate Banking Committee, Sen. Pat Toomey proposed that the agency should be funded in the congressional appropriations process.
December 15





















