Jon Hill

Banking and community interest groups are urging the Office of the Comptroller of the Currency to reject Sony Bank's bid to charter a cryptocurrency-focused offshoot, warning it could exceed the agency's authority and risk skirting longstanding banking system safeguards.

A major debt collection trade group sued to block a Colorado law banning medical debt from credit reports, arguing it conflicts with a federal law that the Consumer Financial Protection Bureau recently said doesn't let states regulate credit report content.

The Consumer Financial Protection Bureau's employee union warned that the agency is on the verge of running out of money and called for its acting Director Russell Vought to immediately request additional funds from the Federal Reserve.

Another major banking trade group is pushing back on efforts by a string of digital asset and payment firms to obtain federal banking charters from the Office of the Comptroller of the Currency, warning that granting the charters would invite legal and systemic risks.

The Consumer Financial Protection Bureau on Tuesday continued its rollback of Biden-era policies, finalizing the closure of its nonbank enforcement registry and formally scrapping a plan to track financial firms' use of liability waivers and other "fine print" contract terms.

Acting Federal Deposit Insurance Corp. Chairman Travis Hill plans to kick off his Thursday pitch for U.S. Senate confirmation by stressing priorities that have included sharpening the agency's focus on "material financial risks" and strengthening its readiness to handle major bank failures.

The Federal Reserve Friday issued a package of proposals to open up its stress-testing models and scenario designs to public scrutiny, pulling back the curtain on a process that helps determine capital requirements for the nation's biggest banks.

The Federal Reserve Friday issued a package of proposals to open up its stress-testing models and scenario designs to public scrutiny, pulling back the curtain on a process that helps determine capital requirements for the nation's biggest banks.

The Trump administration has urged the full D.C. Circuit to keep in place a split panel's ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, dismissing a union-led bid for full-court review as one that's built on a misguided "straw man" attack.

The Office of the Comptroller of the Currency has agreed to end a long-running case accusing a former Wells Fargo risk officer of failing to prevent the bank's fake accounts scandal, striking a deal that drops its pursuit of a $10 million fine and industry ban.