Compliance

Sanders, Ocasio-Cortez propose 15% cap on credit card interest

05/09/19

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.

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Wells Fargo creates unit to satisfy regulatory demands

05/08/19

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.

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Credit union, bank groups trade shots over CFPB supervision of big CUs

05/07/19

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.

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FDIC hits Pacific City with stronger reg order for BSA compliance

05/06/19

The California company was issued a consent order after it failed to meet the conditions of a January 2018 informal agreement.

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Wells Fargo expects to refund debit-card fees amid review

05/03/19

Wells Fargo & Co. said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers.

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Trump: Stephen Moore out as potential Fed nominee

05/02/19

The announcement comes after several news reports that Stephen Moore would not back down from his anticipated nomination to serve on the Fed despite growing concerns from Republican senators.

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New York launches its own 'mini CFPB'

04/30/19

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

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Critics fear shift at CFPB will let firms off the hook

04/29/19

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment.

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CFPB announces debt collection town hall as it preps new proposal

04/29/19

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.

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Visa, Mastercard finalize EU card probe with fee cut pledge

04/29/19

Visa Inc. and Mastercard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.

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