Capital One became the latest bank to feel customers' online wrath last week after reports that some customers were being charged twice for debit card activity. But they were hardly alone.
U.S. District Judge Timothy J. Kelly on Wednesday said CFPB Deputy Director Leandra English's case was unlikely to succeed on the merits and did not demonstrate irreparable harm.
The bank says it received an “outstanding” rating on its most recent Community Reinvestment Act examination. Its previous rating, a “needs to improve,” not only was bad publicity but restricted its ability to buy banks.
In some ways the Canadian bank's U.S. consumer business is only now shaking off many of its crisis-era problems here. CEO Darryl White is pinning his retail-comeback hopes on a rejuvenated sales culture and a focus on more profitable customers.
The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point.
Minneapolis Fed President Neel Kashkari acknowledges that his plan to raise capital at the biggest banks and ease burden for smaller ones isn't likely to be enacted soon, but says its time will come.
The Fed said Wednesday that the system paid roughly $80.2 billion to the Treasury in 2017, a 13% drop from a year earlier because of an increase in interest payments to member banks for reserve balances.
