Large banks have received CRA credit for Paycheck Protection Program loans and all types of modifications two to three times more frequently than small banks. The latter need to press examiners to recognize the contribution they’ve made to their communities.

The Chicago City Council approved a measure to boost transparency around the lending practices of the city’s banks and help address homeownership disparities in the nation’s third most-populous city.

Changes made in the waning days of the previous administration limited the government-sponsored enterprises’ purchases of certain loan types, which drew criticism from lenders and community groups alike.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

The agency’s enforcement action against a Virginia nonprofit is seen as reining in income-share agreements, which give students tuition in exchange for future wages and which critics complain have evaded scrutiny. Clearer regulatory guidance could solidify ISAs’ legal viability, proponents say.

President Biden plans to nominate officials for three Democratic seats on the Commodity Futures Trading Commission, the nation’s main derivatives regulator.

Apple was ordered by a court to allow developers to steer consumers to outside payment methods for mobile apps, in a ruling that is a severe blow to the iPhone maker.

The Office of the Comptroller of the Currency slammed the scandal-plagued bank for violating a 2018 consent order and for problems with loss mitigation practices in its home lending division. The bank will also be restricted from acquiring certain residential mortgage servicing rights.

Dan Berkovitz’s exit will leave the five-person U.S. derivatives regulator with only two members.

Businesses requiring customers to show proof of vaccination could streamline verification by incorporating inoculation records into wallet apps that patrons already have on their phones.

Acting Comptroller of the Currency Michael Hsu has appeared more circumspect than his predecessors about cryptocurrencies and other types of financial technology. Regulators are still seeking to understand the risks associated with these once-esoteric products, he says.

The consumer bureau is suing the online lender for allegedly violating a 2016 consent order involving its marketing claims. Acting Director Dave Uejio said the company doubled down “after getting caught the first time.”

The Office of the Comptroller of the Currency made good on a promise to rescind Community Reinvestment Act reforms finalized by ex-Comptroller Joseph Otting as part of talks with other regulators on an interagency overhaul of the law.

The Office of the Comptroller of the Currency says the $963 million-asset bank has met expectations for improving board oversight and strengthening auditing of its loan-loss allowance.

The agency’s enforcement action against Better Future Forward says the nonprofit’s income-share agreements — an alternative education finance product — must follow the Truth in Lending Act just like other forms of student loans.

Aiia brings thousands of banks to the card network's global open-banking platform.

The fintech's partnership with the world's largest card network allows it to expand in a market where red tape has stymied many U.S. payment companies.

European bank regulators issued a joint warning against watering down tough new capital requirements, after the industry seized on the pandemic to lobby for less onerous rules.

Some progressive lawmakers argue the Federal Reserve’s deregulatory moves under Jerome Powell should disqualify him for a second term as chair. But the Biden administration could let him keep his job because of monetary policies that helped low-income workers.

Citibanamex is developing data-sharing tools to enable fintechs to become its partners — before they can become competitors.