Regulation and compliance
Regulation and compliance
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The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
February 18 -
Federal Reserve Vice Chair for Supervision Michael Barr said Friday that Fed supervisors continue to draw on lessons learned from last March's bank failures—including heightened scrutiny—addressing risks banks currently face including firm asset growth, liquidity pressures and plummeting commercial real estate values.
February 16 -
American Honda Finance Corp., the financing division of carmaker Honda, says that the Consumer Financial Protection Bureau sent it a "civil investigative demand" connected to the "furnishing of credit reporting information on consumer accounts."
February 12 -
With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.
February 1 -
Large and regional banks are taking different approaches to buybacks in light of the proposed new capital rules. Some plan to buy back stock at moderate levels this year, while others say they will to remain on the sidelines until there is more clarity about the reforms.
January 31 -
Federal Reserve Chairman Jerome Powell suggested that a rate cut is coming, but cast doubt about whether the central bank would see enough data suggesting inflation is sufficiently tamed for interest rates to come down at their next meeting.
January 31 -
Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.
January 24 -
Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.
January 19 -
A common concern in housing finance reactions has been the lack of accommodation for strategies routinely used to manage credit, rate and liquidity exposures.
January 19 -
A group of Democratic lawmakers have written to federal regulators asking them to reconsider potential chilling effects on clean energy financing in the Basel III endgame proposal.
January 18 -
As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.
January 17 -
In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.
January 10 -
Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.
January 9 -
Alberto Musalem, a finance professor with experience in both the public and private sectors, will take over the reins at the regional reserve bank in April.
January 4 -
James Gorman, chair and CEO of Morgan Stanley, expressed optimism in an interview Wednesday that the proposed Basel III endgame capital proposal would "definitely change" before it is finalized.
January 3 -
While much of the attention in next year's election is on the top of the ticket, there are several other important races in 2024 that banks need to keep on their radar.
December 28 -
The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.
December 27 -
The Justice Department and the Consumer Financial Protection Bureau are suing a real estate developer over an alleged bait-and-switch land-sale scheme near Houston. The developer used TikTok and other social media sites to lure Hispanic immigrants into predatory loans, the government alleges.
December 20 -
The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a CNN report that the lender approved a lower percentage of Black and Latino mortgage applicants.
December 18 -
Sens. Sherrod Brown, D-Ohio, and John Kennedy, R-La., have reintroduced their ILC bill that would subject companies that hold an ILC charter to similar oversight as traditional banks, while measures to cap interest rates and ban 'trigger leads' have also been introduced.
December 15



















