financial stress

Dodd-Frank didn’t build stress testing for coronavirus


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


Fed releases scenarios for 2020 stress testing cycle


The Federal Reserve on Thursday released the 2020 stress testing scenarios that it will use to evaluate the safety and soundness of 34 banks with more than $100 billion of total assets.


Golden West co-founder Herb Sandler dies at 87, leaving complicated legacy


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.


Mexico courts big banks; New York eyes taxi lenders


New president suggests less regulation and meets with bank leaders; state and city check for illegal lending activity.


System can withstand threat posed by leveraged lending: Powell


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.


JPMorgan Chase to give $125M to global financial health programs


The total includes donations to community groups helping low-income people, support for the development of financial coaching programs and investment in the creation and testing of fintech tools that can help underserved people.


Fintechs try wooing banks back to construction lending


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


EBay founder's new venture fund seeks fintechs with social conscience


Flourish, a fund backed by Pierre and Pam Omidyar, invests in startups that address social and financial inequities yet (key caveat) are still promising moneymakers, a top official of the fund explains.


CFPB’s Kraninger grilled over payday, military lending


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.


CFPB's Kraninger asks for 'clear authority' over military lending exams


The director of the Consumer Financial Protection Bureau has asked Congress to clarify its ability to conduct exams that ensure compliance with the Military Lending Act.