Failures and forced consolidation among smaller institutions could accelerate in 2022 and 2023 once the federal stimulus programs that have propped up the economy run their course, experts predict.

With Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell testifying, GOP senators expressed opposition to a proposal that would require financial institutions to report account data to the IRS. Lawmakers also weighed in on Powell’s job security.

Brent McIntosh is joining Citigroup as it overhauls its internal systems to modernize the bank and satisfy two regulatory consent orders.

The tech giant's high-stakes court battle with Epic Games over App Store checkout pricing has gotten most of the attention. But its policies are also facing scrutiny in the U.K., Japan, Australia and elsewhere.

Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program and other federal programs couldn’t be used to meet risk-based capital requirements without the proposed change.

Saule Omarova supports allowing the Federal Reserve to hold customer deposits and is skeptical of big-bank M&A. While those views are unpopular in the industry, banking critics hailed the choice to lead the Office of the Comptroller of the Currency.

With an estimated $28.6 million in excess funding for 2021, the regulator chose to direct a portion of that sum to hiring and cyber protections.

Cornell University law professor Saule Omarova could be nominated as early as this week to lead the Office of the Comptroller of the Currency, according to sources. Her appointment would be a shot across the bow for Wall Street as she’s expected to pursue tougher oversight and stricter rules.

The chair of the Federal Reserve said the backlash over the personal financial transactions of two Fed bank presidents — made when they were privy to discussions about the central bank’s coronavirus response — demonstrated that internal guidelines can be bolstered to avoid the appearance of conflicts.

Community Owned Federal Credit Union in Charleston is the third institution that the National Credit Union Administration has closed this year.

The U.S. subsidiary of Japanese banking giant Mitsubishi UFJ Financial Group has entered into a consent order with the Office of the Comptroller of the Currency that requires it to improve its information security protocols, hire more IT staff and create a board-level committee to monitor its progress.

Coinbase Global is bowing to pressure from U.S. regulators and tabling plans to launch a product that would pay users interest for lending out their tokens.

A long to-do list — from developing mortgage servicing requirements to revisiting payday lending rules — awaits Rohit Chopra, the administration’s choice to lead the consumer bureau. But it's still anyone's guess when the Senate will confirm him.

Treasury officials have identified what they believe are the most urgent risks posed by Tether and other stablecoins as they ready recommendations for stricter oversight of cryptocurrencies.

The agency organized a vehicle seeded with $120 million from anchor investors — including Truist and Microsoft — enabling minority-owned banks and community development financial institutions to seek capital for development projects in underserved areas.

Citigroup said it will improve the structure of its commodities-trading business as part of its efforts to satisfy a pair of consent orders it received from regulators last year.

The Federal Reserve chair gave the order following revelations about trading by two senior officials that critics said showed the need for more accountability.

The European Central Bank will look at the trading operations of major lenders as part of climate stress tests next year, after judging that an assessment of loan books alone won’t give enough insight into the fallout they face from global warming.

The Federal Housing Finance Agency is looking to revise the framework intended for when Fannie Mae and Freddie Mac exit conservatorship in order to encourage the transfer of credit risk to private investors.

Rodney Hood, a member of the National Credit Union Administration's board, detailed plans, such as the formation of an Office of Innovation and Access, to foster collaboration between credit unions and the tech community.