Barr’s self-demotion changes little for regulatory outlook
Michael Barr’s surprise announcement that he will step down as the Federal Reserve’s chief regulator could ultimately mean little for the Federal Reserve’s approach to regulation under the incoming Trump administration.
JPMorgan becomes the last big U.S. bank to quit climate-banking group
The banking giant’s exit from the global Net-Zero Banking Alliance leaves just three smaller U.S. banks in the group. Climate activists called large banks’ departures a capitulation to Republicans’ climate denialism.
MountainOne Bank faces fee lawsuit despite issuing refund
A customer claims the Massachusetts bank fined her numerous times over a single botched purchase. The bank paid her back — but her class action lawsuit isn’t going away.
Depositor-owned banks’ merger extends Boston consolidation streak
Reading Cooperative’s combination with Wakefield Cooperative, the third deal involving Boston-area banks announced in the past month, would create a $1.2 billion community bank.
Fraud in US payments is escalating — here’s how we can fix it
The U.S. suffers from a disproportionately large share of global credit card fraud. Bringing customer authentication methods up to standards adopted in other developed countries would solve much of that problem.
What small-business customers want from their banks
The gulf between what small businesses need and what banks are providing could be an opportunity for bankers.
Why banks keep failing at money laundering
A lack of resources is one common cause of AML penalties, says consultant Aaron Ansari.
Q&A: Acting Comptroller of the Currency Michael Hsu
Acting Comptroller of the Currency Michael Hsu reflects on his tenure, the challenges of financial regulation, and the delicate balance of fostering innovation while maintaining trust in the financial system.
Banks’ lower deposit costs are a sign of sluggish loan growth
The industry should save on interest expenses this year as it follows the Fed’s lead in cutting rates. The downside is that the lower deposit rates signal fewer opportunities to make loans.
CFPB to finalize rule removing medical debt from credit reports
The Consumer Financial Protection Bureau finalized a rule that will remove medical bills from credit reports to end what the bureau called “coercive debt collection practices.”