The percentage of consumers who are past due on home equity loans, RV and other personal loans also rose in the third quarter, data released by the American Bankers Association showed.
While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help.
An appeals court on Thursday denied bank groups an en banc hearing from all 11 appellate judges, but bankers said Friday that they're considering turning to the Supreme Court.
More than 50 banks and banking groups responded to the National Credit Union Administration's call for public comment as it attempts to explain why a new field of membership provision won't permit redlining.
So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.
Community bank leaders at an ABA-hosted meeting questioned the timing for a new accounting standard for loan losses and discussed their struggles to keep pace with new technology.
A proposal to revise how the agency calculates the restrictions for less than well-capitalized banks relies on faulty methodology and ignores competition from fintechs and credit unions, according to the industry.
The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas.
