CFPB will not enforce payday lending rule
In a surprise move, the Consumer Financial Protection Bureau said that it will not enforce or supervise lenders for the final payday lending rule. The bureau also plans to narrow the scope of the rule.
U.S. Bank grows consumer banking partnership with State Farm
The bank now offers personal loans up to $50,000 to State Farm customers, the latest step in its effort to broaden its customer base by teaming up with other companies.
Barr welcomes regulatory rethink but Fed needs to supervise
The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system.
Death by a thousand caps: State laws could kill credit card rewards
A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.
Bank regulators fight for desks as OCC returns to NYC tower
Places to work at the 7 Times Square location “will be available on a daily first-come, first-serve basis,” the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.
SBA moves to increase lender fees in flagship program
The mid-year fee hike was necessary to reverse a revenue shortfall in the agency’s 7(a) program, according to Administrator Kelly Loeffler.
Press Release: FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities
PRESS RELEASE | MARCH 28, 2025 FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities WASHINGTON – Today, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-7-2025) that provides new guidance for FDIC-supervised institutions engaging or seeking to engage in crypto-related activities. The new guidance, which rescinds FIL-16-2022, clarifies that FDIC-supervised […]
Exclusive: All CDFI programs legally required, Treasury says
The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said “no final decisions have been made” about the programs.
Regulators to rescind CRA rule, revert to pre-2023 standards
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency say they will move to rescind a 2023 reform to the Community Reinvestment Act, citing litigation concerns about the rule.
CFPB retreats from classifying BNPL like credit cards
The Consumer Financial Protection Bureau said in a court filing that it plans to reverse its interpretive rule tightening standards for Pay in 4 buy now/pay later loans.