Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.
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.
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.
George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks.
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.
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.’
