interest rates

House bill aims to rein in pricey small-business loans


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.


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


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.


OCC seeks to clarify oversight of third-party lending relationships


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


CFPB proposes rule to facilitate Libor transition for creditors


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


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


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


Acting comptroller warns on masks; stimulus debit cards cause confusion


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.


OCC finishes rule meant to sidestep 'Madden' ruling


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.


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


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.


British lenders brace for negative rates floated by central bank


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.


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


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