-
The volume of bankruptcy filings has been climbing, particularly among small businesses. But analysts note that the numbers are still below pre-pandemic levels.
July 13
-
-
-
The Denver-based bank reported that two loans soured, one due to fraud. A number of other lenders reported sizable fraud-related losses last fall.
July 10
-
U.S. Bank, Arvest, Old National, BMO and WaFd took the losses in a decade-long scheme the DOJ announced.
July 10
-
Brooke Pilant, who was at Ameriprise from 2017 to 2024, accused the firm of turning against her after she raised concerns about "unethical practices."
July 10
-
A federal judge has put on hold a plan for mass layoffs at the Consumer Financial Protection Bureau until a new, permanent director is confirmed by the Senate. The judge's order ratifies an agreement on the issue between the CFPB and its union.
July 10
-
The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. encouraged banks to heed Fincen guidance expanding the PATRIOT Act's safe harbor for voluntary information sharing between banks to combat fraud.
July 10
-
The Consumer Financial Protection Bureau is preparing to request information from credit-card issuers about their late fees. The renewed interest in late fees is a surprise, given the agency last year sided with the banking industry to kill a Biden-era rule that would have dropped the charges from $32 to $8.
July 9
-
A settlement with 46 states resolves allegations that Block's Cash App engaged in deceptive marketing and failed to maintain legally mandated fraud protections. The deal also requires Block to honor an agreement with the Consumer Financial Protection Bureau made in the final days of the Biden administration.
July 8
-
The proposal calls for banks to make their compliance programs "risk-based" and pledges to emphasize "systemic" flaws with anti-money-laundering programs rather than "isolated" shortcomings.
July 7
-
Oklahoma's Bank7 may acquire New Mexico's Century Bank by the end of the year. The reason: A wealthy Century shareholder is being forced to sell his shares to satisfy a $40 million debt.
July 6
-
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
July 3
-
The Independent Community Bankers of America is lobbying Congress to require federal credit unions to disclose CEO pay, as most other nonprofit organizations must do. The calls follow the discovery of a massive embezzlement scheme led by the CEO of a Mississippi credit union.
July 2
-
Courts in Sweden told Google to pay price comparison website and Klarna subsidiary PriceRunner nearly $2 billion after the court found that Google favored its own price comparison service. PriceRunner initially sought more than $8 billion in damages.
July 1
-
As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.
June 30
- AB - Policy & Regulation
The high-cost lender wants a federal court to vacate a nine-figure judgment, claiming the Consumer Financial Protection Bureau acted in "bad faith" by abandoning a settlement agreement that would have sharply reduced the company's payment.
June 30
-
The Supreme Court found that President Donald Trump did not provide Lisa Cook requisite due process when he sought to remove her from the Fed last year, and for that reason denied the White House's motion to remove her immediately.
June 29
-
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
June 26
-
Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
June 25
