The Consumer Financial Protection Bureau plans to release neutral credit card pricing data in the coming months to help consumers get the best deal, according to Director Rohit Chopra. Deceptive reward programs, late fees and data portability remain concerns, too, he says.
The credit card giant says that it is "proactively meeting" with advocacy organizations to gather feedback that would help with the creation of a community benefits plan. The National Community Reinvestment Coalition, which has negotiated 21 such deals since 2016, opposes Capital One's proposed acquisition of Discover.
Preliminary rulings by a Pennsylvania judge will allow a jewelry company that claimed it lost $1.1 million to fraud to move forward with suing individual bank employees.
A month after the collapse of FTX, federal prosecutors filed eight charges against crypto mogul Sam Bankman-Fried. Four of them involved wire fraud.
First National has agreed to buy Touchstone Bankshares. The combined company would have more than $500 million each of deposits and loans.
The Federal Reserve has engaged in a yearslong series of "Fed Listens" events to sharpen their understanding of the intricacies of the modern economy. Those with the maneuverability to help struggling industries should do some listening of their own.
Katherine Weislogel, head of treasury and payment solutions at Synovus, discusses industry trends.
Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.
Only a third of Americans are financially healthy, according to Tescher, who founded the Financial Health Network 20 years ago. But while some financial technology innovations are helping, others are more questionable.