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Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos. ... Read full article

The $26 billion all-stock deal has the OK of the boards from both companies; the administration says it will move on privatization without federal backing. ... Read full article

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries. ... Read full article

George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks. ... Read full article

House Democrats described the disparate impact standard as "the most important tool" for enforcing the Fair Housing Act. ... Read full article

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction. ... Read full article

Rep. Katie Porter, D-Calif., wants details about refunding "hundreds of millions of dollars" in fees improperly charged on checking accounts. Wells has acknowledged the potential problem but hasn't estimated how much it owes. ... Read full article

A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be ‘better the devil you know than the devil you don’t.’ ... Read full article

Banks’ third-party technology providers may face increased scrutiny; Rep. Porter wants more data about "confusing" checking account fees. ... Read full article

Bank of America Chief Executive Officer Brian Moynihan said the U.S. has no need for negative interest rates because its economy is strong, unlike other regions that have employed the tricky strategy. ... Read full article

A recent bill would require banks to provide data on suspicious firearms transactions as part of anti-money laundering efforts. ... Read full article

The Clearing House argues that participants in payments transactions could share far more invoice information over its real-time network. ... Read full article

Readers react to the FDIC's proposal allowing banks to hire ex-cons, regulators looking into climate-change risk at banks, whether rewards programs drive loyal customers and more. ... Read full article

A new National Credit Union Administration proposal would raise the threshold for residential mortgages that require appraisals. However, the final rule is by no means a done deal. ... Read full article

The House Financial Services chair is sponsoring a bill with one of the Democratic presidential contenders aimed at alleviating the public housing capital backlog. ... Read full article

In an update of its rulemaking agenda, the bureau said it "expects to take final action in April 2020" on a proposal that would rescind strong underwriting requirements. ... Read full article

New American Customer Satisfaction Index data shows consumers slightly favored banks, which are benefiting from investments in technology. ... Read full article

Nearly one in four bankers said that the tech giants pose the biggest competitive threat in the long term. But are those fears warranted? ... Read full article