Democrats drew a line in the sand Wednesday, opposing a provision in a GOP bill that would allow banks to comply with fewer rules in exchange for holding more capital.
All six big card issuers reported higher chargeoffs in their credit card businesses, a sign that the post-crisis era of exceptionally strong credit performance has run its course.
Financial services companies and groups are increasingly willing to take the regulatory regime to court in an effort to fight back — and so far, they appear to be succeeding.
The funding comes as the financial services industry continues to search for safer ways for customers to share their account data with third-party apps.
The Consumer Financial Protection Bureau ordered an auto loan servicer on Wednesday to pay $2.4 million for failing to live up to the terms of a 2015 consent order.
The biggest bank M&A agreement of the year might not have happened if the buyer, Sterling Financial, had refused to prove to Astoria Financial that it had thoroughly vetted the deal with regulators.
