European authorities have linked the operation to investment scams that predate its sale to ING in 2018.

The closing date for the Florida credit union’s purchase of Heritage Southeast Bank was pushed into 2022 to allow more time for regulatory approval.

The bureau’s new director named former Obama administration officials Lorelei Salas and Eric Halperin, respectively, as the heads of supervision policy and enforcement.

The Financial Stability Oversight Council’s report on climate risk in the financial sector is a backdoor attempt to implement the Green New Deal, a Republican member of the House Financial Services Committee writes.

Crypto firms that offer stablecoins, blockchain-based decentralized finance apps and services supporting peer-to-peer transactions may be required to keep tabs on their users’ identities and funds as a way of preventing money laundering and terrorism financing, the Financial Action Task Force said.

Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

The nominee to lead the U.S.’s top swaps regulator has a warning for lawmakers: Crypto misconduct the agency has already exposed is “the tip of the iceberg” and it likely needs more authority to police the white-hot market. 

The National Credit Union Administration has approved Capital Federal Credit Union in Lubbock, Texas, to serve people of color and underserved communities in its state.

The standards, if finalized, could shed light on how Fannie Mae and Freddie Mac are complying with the Federal Housing Finance Agency's new capital framework.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

The U.S. Treasury is creating a new role of point person for racial equity, hiring JPMorgan Chase veteran Janis Bowdler for the job.

The European Union plans to soften the blow to banks from new capital rules, arguing that an easier stance ensures lenders can keep funding the economy as it recovers from the shock of the pandemic.

The New Payments Architecture was delayed for years due to COVID and other factors. It will move ahead focused only on push payments instead of replacing two national rails.

Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.

The National Credit Union Administration's board made a quick adjustment to its subordinated debt rule after critics warned it could harm lenders that serve minority communities.

Eric Halperin, a longtime consumer advocate, is the first big hire by the new director of the Consumer Financial Protection Bureau.

The National Credit Union Administration adopted a rule that allows credit union service organizations to offer a wider range of loans over the objections of agency Chairman Todd Harper, who said it risks deposit insurance losses.

The Consumer Financial Protection Bureau says Amazon, Apple, Facebook, Google, PayPal and Square must provide details on their use of personal payments data to ensure consumers' privacy is protected and that the data isn't shared without consent.

The Buffalo, New York, bank dipped relatively close to the minimum common Tier 1 equity ratio in stress tests run by the Fed. The results “suggested that there might be more capital-friendly ways to participate” in the commercial real estate industry, its chief financial officer said.

The social network's test of its Novi wallet drew criticism from Democratic senators who say the company does not have a strong track record of protecting user data.