News Topic: Election 2020

A Democratic victory in Tuesday’s election would likely produce new leaders at the CFPB and OCC who could take bank regulation in a sharply different direction. Here are some names potentially under consideration. ... Read full article

The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank. ... Read full article

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1. ... Read full article

Democracy Federal Credit Union is the latest to move ahead with plans to shut down on Nov. 3 so employees can get to the polls. ... Read full article

A recently introduced bill concerning the Paycheck Protection Program loans could hint at what lawmakers will focus on when the House and Senate reconvene next month. ... Read full article

An appeals court upheld an 1895 state law that bars paying for rides to voting sites, a move one observer suggested is part of a broader partisan fight to impact voter turnout. ... Read full article

The Democratic nominee has not gone as far as some progressives in support of financial inclusion, but ideas such as postal banking, a government-run credit reporting system and universal bank accounts would likely gain traction under a Biden ... Read full article

A disputed outcome could cause significant market turmoil in the coming months — and have far more serious repercussions over the longer term. ... Read full article

The Detroit-area credit union is offering consumers within five zip codes free trips to voting sites on Election Day. ... Read full article

Only a few credit unions were open to the public as polling sites in the 2016 election and those numbers are set to be reduced even further this year. ... Read full article

The industry supports candidates on both sides of the aisle but has tilted towards Democrats during this cycle. Experts say that's partly a reflection of the current makeup of Congress. ... Read full article

Jamie Dimon, the chief executive of JPMorgan Chase, said he’s optimistic a Biden presidency could solve problems including health care and economic inequality without damaging businesses. ... Read full article

The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable. ... Read full article

The industry has mounted a massive get-out-the-vote effort, but institutions also want to keep politics out of the office. ... Read full article

It's increasingly unclear when — or even if — Kyle Hauptman will be confirmed to the board of the National Credit Union Administration. ... Read full article

The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks’ capital investment and hiring, observers say. ... Read full article

Sen. Pat Toomey, R-Pa., a potential chair of the Senate Banking Committee in the next Congress, is expected to announce that he is not running in 2022. ... Read full article

Credit union groups continue to make ad buys for industry-supported candidates in advance of Nov. 3 but recent positive economic news could be short-lived. ... Read full article