Banks are making a mistake in their opposition to the SEC’s proposal to mandate disclosure of carbon emissions and other climate data.

Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.

The crypto firm Voyager got in hot water for implying its deposits were federally insured. Policymakers and experts say it isn’t the only one.

The number of Federal Reserve banks should be cut in half and their bank regulatory responsibility should be transferred to other agencies.

Officials from the Fed, FDIC and OCC said proposals allowing banks to get Community Reinvestment Act credit for lending and other activities conducted outside their immediate assessment areas could create “powerful incentives” to invest in Native communities.

Jonathan Fink will be associate chief counsel, while Patricia Grady will serve as deputy chief counsel. Fink has been a leading public face on climate risk at the agency in recent months.

The Federal Reserve Board will enter next week’s Federal Open Market Committee meeting with a full complement of governors for the first time since 2013.

A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the U.S. Senate, according to one of the lawmakers driving the effort.

If the agency’s treatment of Bank of America is extended to the rest of the industry, it will cause widespread confusion and excessive regulatory burden.

Net interest income at Bank of America rose 22%, exceeding expectations even in a higher-rate environment. However, net income fell as expenses rose and investment banking revenues fell amid market tumult.

The operators of a Texas payments firm with ties to the U.K. pleaded guilty in the U.S. to money laundering failures after their business facilitated the shipping of $160 million to Nigeria over about three years.

At a minimum, the court’s ruling will create confusion and invite endless litigation.

Regulators are poised to extract about $1 billion in fines from the five biggest U.S. investment banks for failing to monitor employees using unauthorized messaging apps.

The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, which levied the penalties, say Bank of America unfairly froze customer accounts in its effort to stop rampant fraud in a program that distributed pandemic aid through prepaid debit cards.

The fintech IntraFi announced that Diane Ellis, formerly director of the division of insurance and research at the FDIC, will help lead the firm’s “new initiatives under development.” 

A new book by Hal Weitzman examines the state's policies and how they affect corporate governance around the world.

The Financial Stability Board, an international consortium representing G-20 countries' bank authorities, advised them to get tougher on stablecoins and other crypto assets.

The state’s Department of Financial Services seeks to prevent banks and credit unions from imposing three kinds of “improper or unfair” fees, including overdraft charges when the consumer’s account shows sufficient funds at the time of transaction.

The Texas company concealed no-cost repayment plans from borrowers and collected “hundreds of millions of dollars” in reborrowing fees, the agency said.

The bureau has dragged its feet for years in moving forward with the rule primarily because of the potential impact on credit availability for millions of small businesses.