Post-crisis financial rules have made the business of project lending less profitable for commercial banks. Foreign competitors have stepped in to fill the void, but U.S. banks can carve out a niche as bond offering managers and financial advisers.
The agency recently sent a letter to nine banks urging them to stop offering deferred interest cards, arguing that consumers are often unaware of the risks involved.
The ICBA backs a plan to recapitalize Fannie and Freddie through retained earnings and public offerings, but other groups see it as a self-interested proposal to help GSE stockholders.
The group representing large banks argued in a report Friday that overlapping regulations are hurting the industry's efforts to deal with cyberthreats.
With the future of payday lending in flux, the Office of the Comptroller of the Currency has the ability to help provide consumers with a better credit option.
The top executives at Guaranty Bank said that, after years of struggles, the $1 billion-asset bank was a month or two away from raising the capital it needed to survive.
