Warren, Jones press regulators on fintech lending discrimination
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers. ... Read full article
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers. ... Read full article
The agency announced the series in April as an effort to encourage public dialogue on policy issues. ... Read full article
The information the Consumer Financial Protection Bureau collects about customer problems can be valuable, but analysts need to move past the headline numbers. ... Read full article
The CFPB issued a final rule late Thursday to delay the compliance date for mandatory underwriting provisions of the 2017 payday lending rule. ... Read full article
The company intentionally submitted inaccurate borrower information overstating the number of white applicants, the consumer bureau alleges in a consent order. ... Read full article
The watchdog said the CFPB had trouble determining if some medical debt collectors were subject to its oversight, yet the exams were canceled before their start dates. ... Read full article
For four years running, consumer complaints about the three national credit reporting agencies — Experian, Equifax and TransUnion — have dominated the CFPB’s database. What do they keep doing wrong? ... Read full article
Readers weigh in on community development at BB&T-SunTrust, consider the role that branches play in bank marketing and debate the future of Fannie Mae and Freddie Mac. ... Read full article
The industry continues to push for an overhaul of the bureau’s leadership structure, but both parties seem uninterested. ... Read full article
While there’s been dramatic innovation in the banking sector in recent years, regulators and startups can better collaborate around these developments. ... Read full article
The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important. ... Read full article
Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act. ... Read full article
Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's ... Read full article
Readers weigh in on the role of the Financial Accounting Standards Board, consider personnel changes at the Consumer Financial Protection Bureau, debate the viability of public banks and more. ... Read full article
All Democrats supported the bill focused on the decisions of former acting CFPB Director Mick Mulvaney, while all Republicans opposed it. ... Read full article
Kristen Donoghue had been one of the agency's few remaining senior enforcement managers hired by former Director Richard Cordray. ... Read full article
The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws. ... Read full article
As CFPB mulls privatizing database, consumer complaints are on the rise; an argument for continued human oversight of artificial intelligence; how some banks are luring talent from big tech; and more from this week's most-read stories. ... Read full article
Readers consider a Senate Banking Committee investigation into Facebook's use of consumer data, weigh the value of the CFPB's complaints database, debate legislation that would require big bank executives to testify before Congress annually and ... Read full article
The official told lawmakers Thursday that the research underlying the bureau's 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans. ... Read full article