Banks

Comptroller of the Currency Joseph Otting, a former bank executive, is testifying before Congress this week about reshaping some banking rules.

Former Banker, Now Regulator, Wants To Allow Banks To Make Payday-Style Loans

2:58pm June 14, 2018

by Chris Arnold

Comptroller of the Currency Joseph Otting is a former bank executive testifying before Congress this week about reshaping some banking rules. He wants big banks to start making small-dollar loans.

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People walk past a branch of Australia's Commonwealth Bank in Melbourne on Monday. The Commonwealth Bank agreed to the largest civil penalty in Australian corporate history to settle claims it breached anti-money laundering and counter-terrorism financing

World News

Australian Bank Slapped With Record Fine For Thousands Of Suspicious Transactions

9:45am June 04, 2018

by Scott Neuman

The Commonwealth Bank of Australia settled on allegations that it delayed reporting 53,000 transactions over a three-year period, some of which are thought to be tied to drug gangs and terrorism.

Under legislation approved by the House on Tuesday, SunTrust and other banks with up to $250 billion in assets could be exempted from the toughest rules of the Dodd-Frank law.

Congress Rolls Back Part Of Dodd-Frank, Easing Rules For Midsize, Smaller Banks

6:41pm May 22, 2018

by Chris Arnold

The House gave final passage to a bill that would allow banks with up to $250 billion in assets to escape some of the toughest regulations under the 2010 law meant to shore up the financial system.

An mage taken from a TD Canada Trust error message that NPR received when trying to read about how the institution handles bank drafts.

Economy

An $846,000 Inheritance Got Lost In Transit. That Was In February

4:37pm December 14, 2017

by Bill Chappell

The only money a Canadian family has recovered from a lost bank draft is the $32 it cost to ship the document. The family's bank, TD Canada Trust, has delayed reissuing the larger sum.

Consumer Financial Protection Bureau Director Richard Cordray, shown last October at a panel discussion in Richmond, Va., called Tuesday's vote "a giant setback for every consumer in this country. Wall Street won and ordinary people lost."

Senate Kills Rule On Class-Action Suits Against Financial Companies

5:48pm October 25, 2017

by Scott Neuman

The rule, released by the Consumer Financial Protection Bureau in July, was aimed at "forced arbitration" clauses in consumer agreements with banks and credit card companies.

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Federal Reserve Chair Janet Yellen testifies before the Senate Banking Committee in July. President Trump has given mixed signals about whether he will re-appoint her when her term as chair expires in February.

Fed Chief Yellen Warns Against Dismantling Bank Regulations

2:31pm August 25, 2017

by Jim Zarroli

Federal Reserve Chair Janet Yellen's remarks in Jackson Hole, Wyo., on Friday put her at odds with President Trump. She applauded the post-crisis regulations that he says are hurting businesses.

A Wells Fargo Bank branch office in San Francisco. The bank acknowledges it signed up nearly 500,000 auto-loan customers for insurance they didn't need.

Economy

Who Snatched My Car? Wells Fargo Did

6:02pm August 02, 2017

by Chris Arnold

Wells Fargo is facing another scandal. This time, the bank acknowledges it signed up nearly 500,000 auto-loan customers for insurance they didn't need. Thousands lost their cars to repossession.

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Large German bank KfW says it quickly recovered money it had mistakenly sent to four other banks. Here, one of its Berlin offices is seen in a 2015 photo.

$5 Billion Error Made By Bank Once Derided As 'Germany's Dumbest'

1:53pm March 27, 2017

by Bill Chappell

It's not the first stumble for state-owned KfW, which mistakenly sent hundreds of millions of dollars to Lehman Brothers on the day it went bankrupt.

Hotel employees watch Donald Trump following a ribbon-cutting ceremony at the new Trump International Hotel on Oct. 26 in Washington, D.C.

Trump's Loans From Troubled German Bank Pose Conflict Of Interest

12:12pm December 01, 2016

by Jackie Northam

His new hotel's $200 million renovation was financed by Deutsche Bank. The Justice Department is set to impose a multibillion-dollar fine on the bank. And Trump will oversee the Justice Department.

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Wall Street financier Steve Mnuchin is being considered to serve as Treasury secretary under Donald Trump. Mnuchin assembled investors who bought IndyMac, a failed bank that had been taken over by the FDIC.

Trump's Potential Treasury Secretary Headed A 'Foreclosure Machine'

9:14am November 30, 2016

by John Ydstie

During the financial crisis Steve Mnuchin was working to make profits from the ruins of the housing bust. He assembled investors who bought IndyMac, a failed bank that had been taken over by the FDIC.

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