There are ways to remove bad actors from the industry — such as reinstating the Consumer Financial Protection Bureau’s payday lending rule and banning certain fees and collection practices — without hindering consumers’ access to emergency credit.
Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting.
With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs.
The Honolulu company said the "non-public, fact-finding inquiry" by the Securities and Exchange Commission focuses on its calculations for earnings per share.
Women now account for half of Citigroup's 16-person board, the most of the 20 largest global banks, after Michael Corbat stepped down as CEO and was replaced by Jane Fraser.
The payments processor is now the most valuable private tech company every, surpassing Facebook; some investors are not happy that the bank raised bonuses and CEO pay by 46%.
