Federal Reserve Gov. Michelle Bowman said Friday that the central bank should weigh financial stability risks against stalled growth as it considers refinements to the bank capital framework and merger rules.

After resolving a longstanding consent order from the Office of the Comptroller of the Currency and a shareholder lawsuit, Sterling Bank's CEO — an experienced turnaround artist — says the bank is largely done fixing the fallout from its fraud-ridden Advantage Loan program.

Federal Reserve Chair Jerome Powell has deflected requests from a top critic, Sen. Elizabeth Warren, for details of financial transactions by central bank officials, risking an escalation of tensions with lawmakers over disclosure issues.

The SEC and other regulatory agencies have raised the environmental, social and governance ante. Financial institutions will need to find a way to chip in before the stakes are raised even higher.  

The report, which examined trends between 2010 and 2021, found that the country's biggest banks only opened 638 branches in low-to-moderate-income communities made up primarily of people of color. That accounts for just 15% of their total branch openings.

The Federal Reserve, state supervisors and other bank regulators said they would not penalize institutions that work with impacted borrowers following devastating storms in Florida and Puerto Rico.

A federal judge found that the Consumer Financial Protection Bureau overstated the costs and understated the negative impact of exempting 1,700 financial institutions from reporting Home Mortgage Disclosure Act data.

A half-dozen of the largest banks in the country will participate in the Federal Reserve's climate scenario analysis exercise next year. Findings from the program will inform supervision policies on managing climate and transition risks.

The company behind the digital coin Hydro and a crypto market-making firm tried to artificially inflate the token's price after it was offered through a so-called airdrop, according to the Securities and Exchange Commission.

The Alabama bank must pay $191 million in connection with charges it levied on customers whose account balances went negative before a transaction was posted. Seven years ago, the CFPB imposed a $7.5 million overdraft-related fine on Regions.

In a policy proposal published Tuesday, Fed staffers called for supervisory changes to accommodate banks with commercial real estate loans still reeling from COVID.

Janet Yellen, eager to see through crucial projects, has told White House officials she's prepared to remain Treasury secretary well after the midterm elections, according to people familiar with the discussions.

The amount of money that investors are parking at a major Federal Reserve facility climbed to yet another all-time high as funds sought out places to stash short-term cash.

After a yearlong investigation by the Securities and Exchange Commission, large investment banks including BofA, Citi and Deutsche admitted they failed to monitor their employees on certain messaging channels such as WhatsApp.

A House proposal to restrict stock ownership and trading by members of Congress, the president and vice president, Supreme Court justices and other high-ranking government officials is mired in Democratic infighting, threatening supporters' hopes for a pre-election victory.

Victims of Bernard Madoff's massive Ponzi scheme will soon get another $372 million in payouts, bringing the total amount distributed from a government fund to more than $4 billion since the collapse of the fraudster's company in 2008.

The trade groups, including the American Bankers Association, allege the Consumer Financial Protection Bureau exceeded its authority by claiming discrimination in any financial product violates the federal prohibition on "unfair, deceptive or abusive acts or practices."

Federal Reserve Gov. Michelle Bowman said a shifting landscape has made it difficult for community banks to compete. She called for bank merger reform to make community bank M&A easier.

Republicans from the Senate Banking and House Financial Services committee argue the crypto bank should have been granted access to the Fed's payment systems, warn of 'dangerous precedent' on state banking regulation.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.