interest rates

House bill aims to rein in pricey small-business loans

07/31/20

The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.

[more]

States' lawsuit alleges OCC rule enables 'rent-a-bank’ schemes

07/29/20

The complaint filed by New York, California and Illinois argues that the regulation, issued in response to the 2015 Madden decision, undermines state laws intended to protect consumers.

[more]

OCC seeks to clarify oversight of third-party lending relationships

07/20/20

The OCC is proposing steps for determining which party is the "true lender," which affects how the agency oversees such arrangements.

[more]

CFPB proposes rule to facilitate Libor transition for creditors

06/04/20

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.

[more]

The little-noticed power grab in regulators’ small-dollar guidance

06/02/20

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.

[more]

Acting comptroller warns on masks; stimulus debit cards cause confusion

06/02/20

Brian Brooks says coronavirus mandates, such as masks, could potentially harm banks; some recipients of the Treasury prepaid cards don’t believe they are for real.

[more]

OCC finishes rule meant to sidestep 'Madden' ruling

05/29/20

The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.

[more]

Otting makes it official; Morgan Stanley's Gorman: Hold the stock buybacks

05/22/20

The comptroller of the currency will be replaced by his COO, Brian P. Brooks, on an acting basis; CEO James Gorman says the economy needs to be on steadier ground first.

[more]

British lenders brace for negative rates floated by central bank

05/21/20

British banks are confronting the European import of sub-zero interest rates that could damage profits already weakened by the coronavirus pandemic as the Brexit divorce rumbles toward its rocky end.

[more]

Fed can do only so much to limit pandemic's economic hit: Powell

05/13/20

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.

[more]