finance

Dear Congress: Do away with the rent-a-bank ruse

02/10/20

Payday lenders have long used bank partnerships and similar means to circumvent state interest rate caps. Lawmakers should stop such practices now.

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House passes bills to require more reports from bank regulators

01/14/20

Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts.

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California fines title lender, says its pricing violated state law

12/16/19

The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.

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FDIC chief pitches brokered deposit rewrite, urges Congress to do more

12/11/19

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute.

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House Democrats spar over rate cap bill

12/06/19

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers.

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No room for error with deposit pricing

11/25/19

Banks need to more actively manage margins — including the use of new modeling technology — in the current low-interest-rate environment.

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In partisan D.C., House banking panel flips the script

11/14/19

Bankers had worried about Rep. Maxine Waters' control of the Financial Services Committee, but many now say the Democrat’s working relationship with the panel’s top Republican is refreshing.

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Kansas credit unions prevail in latest state-level tax fight

10/30/19

A special committee in the state Senate has recommended not to move forward on a proposed bill to tax credit unions above a certain asset threshold.

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Vaping deaths could slow pot banking momentum

10/17/19

The Senate Banking Committee chairman said he wants to revise legislation enabling banks to serve marijuana businesses to ensure it does not benefit vaping providers that have sparked safety concerns.

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Senate pot banking bill may add weapon to fight money launderers

10/04/19

As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry.

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