A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either.
With values on multifamily properties soaring, some building owners are using aggressive tactics to push out existing tenants to make room for higher-earning ones. That’s raising questions about whether their lenders are abetting this behavior.
The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.
The California Democrat would have more of a bully pulpit as chair of the Financial Services Committee, but some say she could take a pragmatic approach to passing banking legislation.
Readers weigh in on Comptroller of the Currency Joseph Otting's comments about discrimination, opine on President Trump’s pick to head the Consumer Financial Protection Bureau, respond to new anti-money-laundering legislation and more.
The Community Reinvestment Act needs to be updated, but in doing so Congress should remember why the law was created in the first place, argues Rep. Gregory Meeks.
In her first speech as chairman, Jelena McWilliams signaled a focus on reviewing old policies, speeding up decisions on new bank applications and helping banks navigate marijuana laws.
Rep. Cedric Richmond, D-La., the CBC's chair, requested with a meeting with the comptroller of the currency to "enlighten" him about discrimination in banking.
The central bank's rule-writing workload is expected to remain busy for the foreseeable future, thanks in large part to enactment of the recent regulatory relief bill.
