There is too much customer and regulatory inertia for banks’ business model to become irrelevant overnight. The real danger is banks will fade out of the picture over time.
Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.
Jerome Powell says it's “now or never” to cut the government’s role in mortgage finance; Justice Department is monitoring eight banks for suspected money laundering.
National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources.
With traditional mortgage lending opportunities becoming increasingly scarce, banks in Seattle and Portland are loading up on jumbos, diving into multifamily and reviving dormant bridge loan programs.
A judge has approved the inclusion of new payday lenders in a case seeking relief from the effects of Operation Choke Point, and denied defendants' motion for summary judgment against Advance America.
Federal Reserve Board Gov. Jerome Powell stopped short of endorsing any single housing finance reform plan, but called on lawmakers to resolve what he described as the biggest unfinished business of the crisis.
