financial stress

Requiring banks to test themselves is likely to be a waste of time in the current crisis, says a former Senate Banking counsel.

Sandler and his wife, Marion, built a small California thrift into a powerhouse before selling it to Wachovia prior to the housing collapse, but were heavily criticized for engaging in some of the same practices that caused the financial crisis.

Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

Software startups say bringing borrowers, builders and lenders onto one digital platform can remove some of the risks lenders faced during the crisis.

The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.