Chopra pressured on use of ‘junk fees’ label
Consumer Financial Protection Bureau Director Rohit Chopra was challenged about his use of the term ‘junk fees’ during a House...
Policy
FOMC pauses rate hikes, says more increases likely coming
The Federal Open Market Committee announced it would leave the target range for the federal funds rate at 5% to...
Agencies issue spring regulatory agenda addressing overdraft, NSF fees
The Biden administration issued its spring 2023 semiannual regulatory agenda—a semiannual listing of rulemakings that departments and agencies expect to...
McHenry introduces bill to delay beneficial ownership reporting implementation
House Financial Services Committee Chairman Patrick McHenry (R-N.C.) on introduced legislatio that would effectively delay the date that beneficial ownership...
Chopra defends CFPB actions in Senate hearing
During a Senate Banking Committee hearing, CFPB Director Rohit Chopra fielded questions on the agency's proposed rule to further limit...
ABA urges CFPB to exclude banks from ‘data broker’ definition
Any CFPB activity on data brokers should target unregulated entities and not upset the existing regulatory framework for financial institutions,...
CFPB to issue open banking rule in coming months
In a blog post on the CFPB website, Director Rohit Chopra said the agency will issue a formal proposal in...
FDIC’s Hill cautions against regulatory overreaction to bank closures
As policymakers draft new rules in response to the recent bank failures, it important not to overreact and saddle the...
ABA seeks industry-focused approach to AI policy
As regulators develop policy for artificial intelligence, they should adopt an industry-focused approach in order to minimize the effects to...
Hsu: Third-party risk management guidance offers flexibility for smaller banks
Regulators acknowledge that proper due diligence of third-party vendor relationships can be a struggle for smaller banks with their limited...
