The final rule also orders the government-sponsored enterprises to give advance notice of new activities to determine if they are subject to these procedures.

Recent clashes over how much investors should get paid when borrowers switch to a new benchmark are a small part of a much larger struggle by global regulators to shift markets away from the scandal-tainted London interbank offered rate.

In a sprawling consent order, the Consumer Financial Protection Bureau order cited mismanagement that extended from auto loans to mortgages and deposit accounts. Wells Fargo CEO Charlie Scharf called the agreement a critical milestone to "put these issues behind us."

The loans for self-employed borrowers are getting a fresh examination to determine if they fall within the Consumer Financial Protection Bureau's updated guidelines for qualified mortgages, which went into effect in October.

Back in 2018, Trump Administration officials attempted to have the case dismissed but the federal court system rejected its petitions.

In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.

The FHFA should focus on the facts as it ponders the future of the Federal Home Loan Bank System.

Benefits under the Servicemembers Civil Relief Act were applied to fewer than 10% of auto loans for active-duty reserve members, the agency found. It urged financial institutions to ease the process for accessing the law's interest rate protections.

A new state study suggests that mortgage lenders are putting up barriers to home ownership among people of color.

The acting comptroller of the currency said new CECL standards will help banks weather current economic uncertainty. He also touted the benefits of diversity in risk management.

Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.

Republican control of the House of Representatives means that CFPB could be sidelined for years, writes the Chairman of Whalen Global Advisors

President Biden announced that his administration would extend the pandemic-era pause in student loan repayments through June 30 amid legal challenges to his college debt-forgiveness plan.

While rising rates buoy revenue for the country's largest banks, in the short term they also force them to write down the value of assets they hold on their balance sheet, exacerbating a capital squeeze that's prompted most of them to halt buybacks.

Republican control of the U.S. House of Representatives will help advance financial services firms' priorities, with a wish list that includes curbing ambitious proposals by a top markets regulator and diminishing the clout of a popular U.S. consumer watchdog.

A heated panel discussion sponsored by the Federal Housing Finance Agency raised questions about the funding, structure and mission of the Home Loan banks.

The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.

The agency released two reports Tuesday outlining shortcomings of the background check industry and pledged to root out false information and faulty practices in the space.

Martin Gruenberg has been acting chairman of the Federal Deposit Insurance Corp. since February and is the longest-serving member of the FDIC board.