Rep. French Hill tapped to chair House Financial Services Committee

The legislation includes provisions related to brokered deposits, de novo bank formation and a mentor-protégé program pairing large financial institutions with smaller depository institutions.

A federal appeals court has rejected a Trump administration request for permission to trim the CFPB’s workforce by more than half, instead sending the case back to a lower court.

The Federal Reserve expressed its “deep sadness” over the passing of former Fed Chairman Alan Greenspan, who led the central bank for nearly two decades. In a separate statement, the FDIC said it was saddened to learn of...

Rep. Young Kim (R-Calif.) has introduced legislation to allow financial institutions to place extended holds on suspicious checks and wire transfers while fraud claims are investigated.

OCC proposed regulations to implement Bank Secrecy Act and sanctions requirements for payment stablecoin issuers. The rulemaking was issued in coordination with FinCEN and OFAC.

The banking agencies’ Basel capital proposal is an improvement from the 2023 proposal, but changes that eliminate areas of overcapitalization and better align capital charges with risk are needed, ABA and other trade associations said. ABA also joined...