Penalties and fines

CFPB, N.Y. settlement would ban Buffalo debt collectors from industry


State and federal authorities say the network of firms in upstate New York sought debts that consumers weren't obligated to pay and impersonated government officials, among other things.


The second round of stress tests; State Street settles with SEC


The results clear the way for bigger dividends and stock buybacks at big banks; State Street agreed to pay $88 million to settle claims it overcharged clients.


Wells striking out in search for new CEO; Big banks lower Q2 forecasts


Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.


New role for blockchain; why so many bankers run


Digital Asset Holdings eyes blockchain for 'smart contracts'; readying for a marathon is like competing for a big client.


Wells mulls making interim CEO permanent; Emanuel joins boutique bank


The bank is having trouble finding an outsider and acting chief Allen Parker has impressed the board; the former Chicago mayor will join Centerview Partners.


OCC monitoring Wells CEO search; CFPB enforcement chief to leave


Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down.


Working around Dodd-Frank; Marcus' German launch delayed


Big banks may have found a way to lower needed reserve levels; with Brexit delayed, Goldman will hold off on expansion.


Critics fear shift at CFPB will let firms off the hook


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.


Morgan Stanley fined; German giants regroup after merger fails


The bank agreed to pay $150 million to California to settle charges it hid the risks on the sale of mortgage bonds pre-crisis; foreign suitors circle Commerzbank while Deutsche Bank seeks answers.


Jesse Jackson wants banks to take a stand on how fines are used


Civil rights activist Jesse Jackson is pushing a proposal that the billions banks have paid in fines be given to Americans who lost homes or suffered in other ways during the financial crisis.