The 2010 law does very little to constrain regulatory power, explaining why Republicans pushed for reforms during the Obama presidency and why, under President Trump, Democrats are so vigorously opposing agency management changes.
Departing central bank chief says colleagues are committed to strict bank regulation; marketplace lending not living up to promises as delinquencies continue to rise.
Banks are looking at using the powerful number-crunching technology to make risk calculations, analyze portfolios and protect their systems against sophisticated cyberattacks.
In a year of political upheaval and weak commercial credit growth, lenders sought to capitalize on an economic bright spot — consumer spending — by reviving the personal loan, allying with fintechs and exiting traditional business lines that no longer made sense.
The Community Home Lenders Association wants Mick Mulvaney, the acting director of the CFPB, to delay implementation of the Home Mortgage Disclosure Act that goes into effect on Jan. 1.
Despite concerns from Democrats about the bank regulatory views of Federal Reserve Board officials who will lead the central bank going forward, the current Fed chair said she is not worried.
The Fed’s rate hike on Tuesday will raise bank's funding costs, serving as a stark reminder that a return to strong, broad-based business loan demand can’t come soon enough.
The Obama administration had tried to ease restrictions on the Federal Housing Administration's condominium program, but the agency under President Trump is seen as moving more aggressively.
Covault has begun offering a digital identification and virtual safe deposit box service to banks and others. Similar efforts have failed before, but its backers say mobile apps and the cloud have made the service more practical.
