U.S. Treasury Secretary Janet Yellen has a message for President-elect Donald Trump: back off from meddling in the regulation of the American banking system. She called out Trump’s transition team for reportedly eyeing drastic cuts or mergers in Washington’s top financial oversight agencies. Naturally, his return to power has raised questions about how far his […]

By Andrea Shalal and David Lawder WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday urged the incoming Trump administration to refrain from interfering with what she called critically important appropriate regulation of American banks' capital levels, liquidity and risk-taking. Yellen, who has served as U.S. President Joe Biden's Treasury secretary since he took office in

The Consumer Financial Protection Bureau (CFPB) has announced it has placed Google Payment Corp. under federal supervision, reports Reuters. In turn, Google has filed a lawsuit to block the CFPB's order, which would impose routine inspections and monitoring akin to those faced by banks and other financial institutions. The CFPB recently gained jurisdiction of payments and digital wallet services. It announced its actions against Google on...