Most big banks saw modest reductions in their requirements following this year's stress tests. The results come as the Fed prepares to smooth year-to-year swings with a new averaging rule.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.

Advocates warned the Federal Housing Finance Agency that allowing cryptocurrency assets to be used in the underwriting of Fannie and Freddie mortgages risks taxpayer losses and market instability.

New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.

The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.

The ranking Democrat on the Senate Banking Committee said growing uncertainty and risks in the financial system mean the central bank should increase the countercyclical capital buffer for the nation's largest lenders.

The Federal Reserve governor's term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank's board.

A judge ruled the Pennsylvania lender had to commit to its increased fair lending obligations for three more years, as it wouldn't harm the public interest.

The agency has a proposed repeal in place, getting ready to be made public on July 28, which would rescind another Biden-era fair housing policy.