Top headlines in today’s news …
A $60 million payment for fines and consumer redress was ordered against a carmaker’s lending arm for allegedly directing customers to a dead-end cancellation hotline, withholding refunds, and “knowingly” tarnishing credit reports with false data, […]
An open meeting was abruptly canceled Thursday of the board of the federal bank deposit insurance agency amidst press reports of sexual harassment issues at the agency, according to new reports. Instead, the Federal Deposit […]
Fines and redress of nearly $26 million was assessed Wednesday against one of the largest banks in U.S. for discrimination of Armenian Americans, the federal consumer financial protection agency said. According to the Consumer Financial […]
Larger nonbank companies that offer digital payment apps and wallets – including Apple Pay and Google Pay – would be subject to the same rules as banks, including examinations, under a rule proposed Tuesday by […]
The maximum interchange fee that a large debit card issuer can receive for a debit card transaction would be lowered under a proposal issued by the Federal Reserve Board Wednesday. The proposal would also establish […]
This story updated to include link to Federal Register notice of final rule. Revisions to rules implementing anti-redlining laws that are designed to “strengthen and modernize” the regulations to “better achieve the purposes of the […]
Missed opportunities to downgrade a troubled bank’s exam ratings and inconsistency in performing timely supervisory activities by the federal insurer of bank deposits contributed to a “material loss” to the insurance fund from the failure […]
The impacts of persistent inflation, and potential large losses in real estate – both commercial and residential – are the two, top “salient risks” to financial stability most frequently cited by financial experts in a […]
A final rule revising anti-redlining regulations, and proposed revisions to the debit interchange fee cap – both significant regulations for banks and other financial institutions – will be considered by the Federal Reserve Board next […]
A central bank digital currency’s (CBDC) possible benefits, risks and tradeoffs for the U.S. should continue to be researched – but “potential uses” remain unclear, a member of the Federal Reserve Board said Tuesday. Speaking […]
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