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News & Headlines

Cordray: Consumers Free to Authorize Third-Party Access to Data

Bank customers ought to be free to authorize third parties to access their bank account information without limit, Consumer Financial Protection Bureau Director Richard Cordray said yesterday at a fintech conference in Las Vegas.

FDIC Sees Strong Results from Youth Savings Program

Banks participating in the FDIC’s youth savings pilot program are seeing strong results, agency chairman Martin Gruenberg said on Friday, adding that the FDIC will by year’s end provide a “roadmap” for other banks wishing to offer similar programs.

FDIC: Share of ‘Unbanked’ Continues Downward Trend

The share of the population that is unbanked continued falling in 2015, reaching 7 percent — the lowest share yet recorded in the FDIC’s biennial survey of unbanked and underbanked households released yesterday.

Agencies Seek Comment on Large Bank Cyber Standards

The Federal Reserve, FDIC and OCC yesterday issued an advance notice of proposed rulemaking seeking comments on a set of enforceable cybersecurity standards for banks with more than $50 billion in assets.