Compliance

With the state only months away from allowing the sale of pot for recreational use, its top cannabis regulator is urging policymakers to consider creating a public bank to provide services to growers and dispensaries that might otherwise have nowhere else to bank.

The subprime auto lender paid $2.9 million to Connecticut consumers and a $100,000 fine for miscalculating balances owed on repossessed cars and for charging improper fees. It says the settlement is part of an effort to clean up "legacy issues."

Budget proposal would slice agency’s spending while limiting its enforcement activities; the bank could lose its U.K. banking license if it fails to refute fraud charges.

Delaying the rule's effective date or refocusing it on disclosure requirements are among the options for the Consumer Financial Protection Bureau's acting director to ease its impact on the industry.

The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its cross-selling scandal, restricting the bank’s future growth and removing four members of its board of directors.