The Consumer Financial Protection Bureau is warning that excessive fees can chip away at the cash sent to the most vulnerable consumers who opt to receive Social Security and other public benefits via prepaid cards.

Banks reported record growth in net interest margins in 2022, but net income still fell, and the industry "continues to face significant downside risks" from inflation and other factors, Martin Gruenberg says.

The closely watched case — which goes to the heart of how the Consumer Financial Protection Bureau operates — could have a huge impact on consumers, the agency and the many industries it oversees and those it seeks to regulate.

Auto title lender TitleMax was ordered by the Consumer Financial Protection Bureau to pay a $10 million fine and $5 million in restitution for overcharging servicemembers and altering their personal information to avoid detection.

The Consumer Financial Protection Bureau has asked the high court to overrule a lower-court decision that threatens its funding structure. The justices didn't accept the case on Tuesday, but experts say it could still make the cut in the coming week.

In a speech on the central bank's regulatory agenda for the year, Federal Reserve Board Gov. Michelle Bowman said the merger-and-acquisition review process could benefit from added transparency.

The regulator's proposal adds to measures already in place—net short positions—but critics worry that overzealous application could dampen the market.

Townstone Financial in Chicago had been accused of discriminating against certain consumers by trying to discourage them from applying for home loans. However, a judge ruled that federal law protects only actual applicants.

A core issue in the upcoming fight over late fees involves what data is being collected on card issuers' costs and losses associated with late payments.

In a reversal from five years ago, six of the eight biggest U.S. banks by branch count now offer the loans, which observers see as safer alternatives to payday loans.

The current president, Esther George, is set to leave office on Jan. 31. The reserve bank's search committee has no deadline for finding a full-time successor.

Signature Bank of New York is pulling back from crypto deposits and has increased borrowings from the Federal Home Loan Bank of New York.

In remarks delivered at a central banking symposium, Federal Reserve Chair Jerome Powell called for changes to money market funds and the Treasury market.

Esther George, the president of the Federal Reserve Bank of Kansas City, is retiring later this month. What's taking the bank so long to find a successor?

The Consumer Financial Protection Bureau's outline for upcoming regulations reflects the efforts of Director Rohit Chopra to reduce credit card late fees and overdraft fees.

The Consumer Financial Protection Bureau and the state attorney general claim Credit Acceptance Corp., an indirect auto lender, deceived thousands of borrowers by failing to disclose and include finance charges in calculating the cost of a car loan.

The Consumer Financial Protection Bureau's new unit will identify the root causes of recurring violations and find ways to hold companies accountable.

Consumer advocates urged a district court to dismiss a lawsuit against the Consumer Financial Protection Bureau, alleging that discrimination is an "unfair," practice under the Dodd-Frank Act.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.

In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.