Banks claim that regulators have been avoiding using a transparent public process to implement new regulations, opting instead to use informal guidance that has the impact of policy.
Stress tests have come a long way since first unveiled to shore up confidence in banks. But some critics fear that proposals to make the system more efficient would compromise its safety.
Sen. Bernie Sanders lashed out at Jamie Dimon on Twitter after the chief executive officer of JPMorgan Chase criticized socialism during an appearance in Washington.
The watchdog said the CFPB had trouble determining if some medical debt collectors were subject to its oversight, yet the exams were canceled before their start dates.
This is the first year that only the largest and most complex banks will be included after the Federal Reserve decided to let smaller firms wait until next year to resume testing.
Branches are closing at the fastest pace in years, and keeping them relevant to customers is a problem banks are being forced to solve in ever more creative ways.
