Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.
Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery.
The CFPB asked whether 10-year-old consumer protections against overdrafts are onerous or unfair, especially to smaller financial institutions, but banking industry officials largely said any changes could invite new problems.
Freedom Northwest in Idaho hopes a proposal from the NCUA will help it bring in more deposits to fund a fast-growing mortgage business. Banks are crying foul.
The American Institute of Certified Public Accountants says banks are fighting accounting fatigue — thank CECL for that — and wants the FASB to push back a deadline for privately held firms to put operating leases on their balance sheets.
A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes.
While NCUA lawyers fielded questions about the possibility of redlining, a three-judge appeals panel showed skepticism about other elements of the ABA's arguments against changes to credit union membership rules
