U.S. officials are starting to take a closer look at tech companies that are having a bigger and bigger impact on the financial services industry.
Bank of America is refunding about $738 million to customers in addition to $45 million in penalties.
OCC survey finds banks eased underwriting standards for business and consumer loans.
Wells Fargo and U.S. Bank plan to quit offering their customers advances on direct deposits, in accordance with guidelines from federal regulators.
Banks say they are reviewing guidance from regulators that could affect their deposit advance offerings.
The OCC points out threats to the safety of national banks and federal savings thrifts.
Banks still face potential for excessive risk in a slow-growth, low-rate economic climate.
A government report cites delinquent mortgages, revenue growth challenges and excessive risk opportunities as challenges for U.S. banks.
Five prominent consumer advocacy groups have banded together to protest a federal agency’s decision to ignore a significant new law intended to help clean up the regulatory mess that contributed to the U.S. financial meltdown several years ago. In a lengthy letter to the Office of the Comptroller of the Currency (OCC), the Center for