Regulatory actions and programs

CFPB political appointee named agency's No. 2


Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger.


Wells Fargo creates unit to satisfy regulatory demands


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.


SBA's rationale for raising fees: More loans will go bad


Lenders argue that the move is premature, citing record-low charge-offs in the agency's 7(a) program.


Examiners should stay focused on ‘big picture’: FDIC’s McWilliams


The head of the agency said she wants FDIC staff to be proactive with banks that show visible problems, but not “focus more on seeking out dirt than on whether the home is clean.”


CFPB announces longer terms, more meetings for advisory boards


The changes will expand the role of the Consumer Advisory Board and other panels, but stopped short of reversing the downsizing ordered last year by former acting Director Mick Mulvaney.


Senate Democrats urge bank regulators to assess climate risks


The lawmakers want U.S. banking agencies to join their international peers in ensuring the financial system is resilient to climate-related risks.


CFPB's Kraninger announces changes to key management posts


The hiring of a former GOP congressional aide suggests the bureau will continue to rely on political appointees in senior positions.


FINRA fines Morgan Stanley $10M for anti-money-laundering failures


The alleged supervisory lapses occurred over a five-year period, according to the regulator.


Wells Fargo's latest troubles suggest tougher stance by OCC


An eight-month-old consent order appears to be forcing the San Francisco bank to grapple more deeply than it did previously with the many failures that led to its account-opening scandal.


Lawmakers join opposition to SBA poultry lending plan


Dozens of House members and four senators agree with arguments by farmers and lenders that a proposed change to the 7(a) program would disqualify worthy borrowers.