The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
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A bipartisan group of U.S. Senators urged the FDIC to grant "fair consideration" of applications for deposit insurance made by industrial loan companies and voiced their opposition to regulatory actions that target lawful ILC applications.
In remarks at the Mercatus Center, FDIC Vice Chair Travis Hill posed discrete questions to policymakers on "minimizing the risk and severity of disorderly bank failures."
The Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association and two Texas business groups challenged the CFPB on the recently adopted final rule restricting credit card penalty fees.
The Consumer Financial Protection Bureau issued a final rule to restrict credit card late fees, which marks the latest expansion of the Biden Administration’s "junk fee" initiative.