Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.
The Consumer Financial Protection Bureau settled a $1.1 million enforcement action on Monday with Xerox Business Services, alleging that its software misreported borrower information to credit reporting agencies.
Federal Reserve Chair Janet Yellen announced Monday that she intends to step down from the Board of Governors after her successor is sworn in when her term expires early next year, ending any speculation that she may stay on.
Carver Bancorp, which has spent 70 years serving minorities in Harlem and surrounding neighborhoods, is struggling to turn a profit. As black-run banks nationwide struggle to stay afloat, Carver's CEO insists the institution is on the right track.
Some fintechs argue that banks are selectively working with only certain third parties in sharing information and violating the spirit of the CFPB’s data-sharing principles.
The $65 billion-asset company intends to shed its holding company and then will petition regulators to reconsider its designation as a systemically important financial institution.
Former Treasury Secretary Jacob Lew is joining the private equity firm Lindsay Goldberg, adding his name to a list of government officials settling in at buyout shops.
Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic-development projects in communities and Native American reservations in California, Nevada and Arizona.
