Banking

The Consumer Financial Protection Bureau moved for dismissal regarding multiple claims cited in a lawsuit challenging the legality of its final rule prohibiting medical debt information from being considered in credit decisions. Read on »

The Office of the Comptroller of the Currency is seeking comments on a newly adopted interim final rule amending its 2024 final rule related to its procedures for evaluating applications under the Bank Merger Act. Read on »

The Senate voted along party lines to approve a resolution overturning a final rule updating the process banking regulators use when reviewing proposed bank mergers and acquisitions. Read on »

The Federal Reserve has withdrawn various supervisory guidance materials outlining policies regarding cryptocurrencies and other digital tokens. The agency characterized the moves as necessary to ensure industry expectations align with evolving risks and further support innovation in the banking system. Read on »

As financial technology and digital assets remain ever-growing factors in the financial services industry, trade organizations continue to increase efforts to advocate for new policies to help their members remain competitive. Read about some of the latest developments with respect to this topic and more in this roundup. Read on »

Most revolutionary innovations in human history have followed a similar pattern. There is an immediate surge of astronomical expectations followed by a proverbial trough of disillusionment. The latter is where Keith Fulton, chief data officer at Jack Henry, believes artificial intelligence (AI) currently resides. But, soon enough, he predicts it will revolutionize industry in much the same way “iron horses,” also known as “trains,” did in the 1800s. Read on »

The Consumer Financial Protection Bureau dropped its appeal in a case in which PayPal Holdings, Inc., challenged a 2019 rule extending fee disclosure requirements for prepaid card products to digital wallets as well. Read on »

Federal Reserve Gov. Michelle Bowman, the Trump administration’s nominee to be the agency’s new vice chair for supervision, was praised by Republicans but faced heavy scrutiny from Democrats during her Senate confirmation hearing. Read on »

Another chapter was written in the ongoing legal saga concerning the embattled Consumer Financial Protection Bureau last week. Shortly after a federal court partially lifted a court order preventing mass firings at the bureau, the Trump administration resumed its plans to gut the agency, prompting the courts to intervene again. Read on »

Federal banking regulators granted conditional approval for a $35.3 billion merger agreement through which Capital One Financial Corp. will acquire and merge with Discover Financial Services. As a condition of regulatory approval, Discover must settle any outstanding enforcement actions against the company. Read on »