More than one-third of the Office of Financial Research’s staff could soon be laid off, but the agency seems to lack the political clout needed to block the move.
New research conducted by SourceMedia Research/American Banker and commissioned by Fiserv highlights consumers’ need and desire for better short-term lending options from their financial institutions
Capital One has been rolling out coffee shops where it can offer banking services — but are not considered branches. The cafes have been especially effective at gathering deposits, putting more pressure on community banks that have already been losing deposits to their larger rivals.
The full Senate will now consider the nomination of Jelena McWilliams to lead the FDIC, as well as nominees to sit on the Federal Reserve Board and the Financial Stability Oversight Council.
A provision in the Senate’s two-year budget deal would cut the Federal Reserve's operating surplus by $2.5 billion, the second time in recent years that Congress has diverted Fed funds.
The legislation, a similar version of which passed in the last Congress, would give favorable regulatory treatment to certain loans even if real estate-related fees were paid to an affiliate of the lender.
Marquette Bank is proof that community banks don't have to be the fastest or flashiest to compete with online lenders. Instead, the Chicago bank closely mirrored fintech offerings while promoting personal service to set itself apart.
Delaying the rule's effective date or refocusing it on disclosure requirements are among the options for the Consumer Financial Protection Bureau's acting director to ease its impact on the industry.
Nine lenders have been warned by the U.S. that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans' loans.
Additional consolidation would not strengthen the industry, but would instead leave consumers with less choice and reduced access to financial services.
