Small financial institutions are eager to see the Senate’s reform bill signed into law, but House efforts to amend the legislation risk stalling the effort.
Growing numbers of small subprime auto lenders are closing or shutting down after loan losses and slim margins spur banks and private equity owners to cut off funding.
Several states have created their own operations aimed at shoring up what they see as oversight holes created by the CFPB; JPMorgan CEO’s annual letter (47 pages, this one) runs the gamut.
Readers react to Mick Mulvaney’s proposal to restructure the Consumer Financial Protection Agency, opine on Community Reinvestment Act reform ideas, weigh in on emojis in digital banking and more.
The Financial Stability Oversight Council will hold an executive session next week to consider whether Zions Bancorp. should still be considered a systemically important financial institution.
Millennium Bank in Tennessee has quickened approval times on loan applications by using software that frees lenders from repetitive, manual tasks. The result: Loan balances have increased by more than 50% in less than two years.
Community banks are slowly warming up to the pricey technology to reduce their reliance on branches, speed up transactions and provide convenience for customers.
Research and consumer surveys aren’t the only tools to help banks understand what they need to do. Friends of executives can provide honest feedback as regular customers.
