CFPB proposes rule to facilitate Libor transition for creditors
The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021. ... Read full article
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Trump warns on Libra; Lenders retreat on farm loans
President says Facebook could face “full banking regulation”; big banks’ farm loan portfolios have shrunk more than 17% since 2015 ... Read full article
Golden West co-founder Herb Sandler dies at 87, leaving complicated legacy
Sandler and his wife, Marion, built a small California thrift into a powerhouse before selling it to Wachovia prior to the housing collapse, but were heavily criticized for engaging in some of the same practices that caused the financial crisis. ... Read full article
Loans ‘ignored’ in Libor talks — so far
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders. ... Read full article
Libor going away creates a compliance trap for ARM lenders
Picking a new benchmark for adjustable-rate mortgages is the easy part. Industrywide implementation is where things get tricky. ... Read full article