A recent proposal by the Financial Stability Oversight Council to focus less on certain nonbank firms and more on risk activities would create unintended economic harm.
In the eyes of regulators, Facebook and bitcoin have a lot in common. Both challenge citizens' relationship to privacy, and both use technology in ways that current laws were unprepared for.
Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.
Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.
In stark contrast to his predecessor, C. Allen Parker said Thursday he accepts regulators' criticism and suggested that the bank may struggle to achieve revenue growth until it moves past its regulatory woes.
Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options.
Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.
Democratic presidential candidate Bernie Sanders and Rep. Alexandria Ocasio-Cortez accused banks of acting as “modern-day loan sharks” and called on Congress to enact a federal limit of 15% on credit card interest rates.
It is designed exclusively to address concerns of regulators who have complained about the bank's lack of progress in recovering from a series of scandals.
A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes.
