Widespread sharing of financial and other data creates enormous privacy risks for consumers, many of whom have no real understanding of the danger.

District attorneys in the Golden State are tangling with Credit One Bank over its debt-collection practices. The bank says the prosecutors have overstepped, but Democratic Attorney General Rob Bonta argues that the legal action should continue.

One of the largest money-transfer services in the U.S. is attempting to broaden the adoption of digital currencies.

The system may be good for the banks that own it, but it is not meeting its public mission.

The nation’s six largest credit card companies are facing questions from the Consumer Financial Protection Bureau over their alleged failure to report customer payment data on a regular basis. The agency says that the industry’s practices can hurt consumers’ ability to qualify for cheaper loans.

Companies that use artificial intelligence or machine learning in their loan decisions are legally required to provide a specific explanation when applications get denied, the Consumer Financial Protection Bureau said in a policy statement.

Banking groups are concerned that their long-fought-for Office of Supervisory Appeals Committee was disbanded without public comment.

George's departure will come around the same time that Chicago Fed chief Charles Evans steps down. Both will have turned 65.

Acting Comptroller of the Currency Michael Hsu said the recent collapse of TerraUSD suggests that prudential rules for stablecoin could prevent similar events in the future. 

The bureau’s new office of competition and innovation will promote competition, host events and seek to make it easier for consumers to switch financial providers.

Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.” 

Wall Street lenders are calling on the U.S. government to hold off on launching a digital dollar, arguing that a virtual currency backed by the Federal Reserve risks draining hundreds of billions of dollars out of the banking system.

The firms respectively settled the regulator’s allegations about suspicious activity reports and the duty of best execution — two major areas of emphasis.

People shouldn’t completely shun the crypto world after the recent collapse of a popular stablecoin, an official at the International Monetary Fund said Monday. 

In a 5-4 Supreme Court decision two years ago, the bureau’s rulemakings survived intact. But a pair of pending cases that challenge the agency's funding through the Federal Reserve are again seeking to invalidate every action the CFPB has taken since 2010.

In a nation dominated by six large banks, credit unions hope to build membership by taking advantage of the data-sharing rules that would allow them to broaden their reach through fintech partnerships.

The Biden administration’s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank’s independence. But he did not meet the same resistance from Republicans as the White House’s first choice, Sarah Bloom Raskin, observers said.

Several federal agencies have recently stepped up requirements on banks to notify regulators and the public when they fall victim to cybersecurity incidents.

A more active Consumer Financial Protection Bureau, competition from Big Tech and sanctions on Russia are combining to make compliance a much larger concern than in the past, according to legal experts who spoke at American Banker's Payments Forum.

The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.