The litigation involved more than 100 loans, many insured by the Federal Housing Administration, with volume totaling approximately $55 million.

The Consumer Financial Protection Bureau has received more than 11,000 comment letters on its proposal on personal financial data rights, but banks say the agency should ensure that more fintech partners take on their fair share of the rule's compliance burden.

Industry participants say more direct communication between fintechs and federal regulators could help avoid bad outcomes. Some underused legal tools could help bridge the gap.

Nine federal regulatory agencies are requesting comment on a rule that would create data standards for supervisory information collected and submitted to financial regulators.

The Federal Reserve chair said Fed researchers continue to explore central bank digital currencies to stay current on international payments developments, but emphatically denied that the central bank is considering creating one of its own.

Changes to the regulatory regime surrounding the Federal Home Loan banks should be carefully calibrated so as to do no damage to their successful support for housing and the provision of liquidity to members.

In a new survey of bank executives from IntraFi, 90% of respondents said instances of check fraud have increased in recent years and half want law enforcement to make check fraud a bigger priority to stop criminals from stealing checks in the mail.

While the federal banking agencies are not changing any current rules, they issued a joint statement Thursday cautioning banks about risks in third-party deposit partnerships. They are also seeking public input on bank-fintech partnerships more generally.

Federal Deposit Insurance Corp. Vice Chair Travis Hill has called for a full reproposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.

Not every audit will save a dollar, but paying for check-ups will stem further expenses, industry veterans say.

Vice President Harris' surprise elevation to the top of the Democratic ticket and the ascent of Ohio Sen. J.D. Vance to be the Republican vice presidential pick brings renewed vigor to each party's economic vision.

Vice President Kamala Harris, the most likely choice to replace President Joe Biden on top of the Democratic presidential ticket in November, has a long and complicated history with the banking industry.

With the landmark Supreme Court decision overturning Chevron USA v. National Resources Defense Council, much of the rule making by the Federal Reserve Board, the SEC, HUD and other agencies is now open to attack, writes the Chairman of Whalen Global Advisors.

The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.

Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.

The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.

It has become the 29th state to bar NTRAP contracts, with Illinois' legislation on it pending the governor's signature, according to American Land Title Association data.

The Consumer Financial Protection Bureau's proposal to eliminate medical debts from credit reports is under attack from debt collectors, which claim the rule will drive up litigation costs and drive doctors out of business.

Former President Donald Trump has selected Sen. JD Vance, R-Ohio, a vocal member of the Senate Banking Committee, as his vice presidential candidate in the 2024 presidential election, marking a turn against corporate power in Republican politics.

The National Association of Realtors was looking to reverse the April decision from the D.C. Circuit Court of Appeals that allowed the Justice Department to reopen its probe into the group.