News Topic: Law and regulation

Homeowners reeling from coronavirus-induced economic shock are already enduring extremely long wait times while trying to get relief. Legislation passed last week could worsen the logjams. ... Read full article

Lawmakers and regulators opted to delay compliance for banks that have implemented the credit loss standard, sparing them near-term capital hits. ... Read full article

Many borrowers will suffer unless the program, the central bank's latest response to the coronavirus pandemic, includes consumer loans issued by fintechs. ... Read full article

Policymakers should abolish the new accounting standard because it could distract banks at exactly the moment they need to be focused on pulling their communities from the brink of recession. ... Read full article

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit ... Read full article

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all. ... Read full article

Regulators' decision to delay reporting for troubled-debt restructurings should allow banks and credit unions to be more nimble modifying loans impaired by the coronavirus outbreak. ... Read full article

The FDIC's call for FASB to postpone the loan-loss accounting standard's effective date could put pressure on other agencies to follow suit. ... Read full article

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection. ... Read full article

The banking lobby asserts that the NCUA's field-of-membership rule goes beyond the agency's legal mandate. ... Read full article

Financial executives who visited the White House pledged to help small businesses and consumers get through any economic damage as the virus continues to spread. They also encouraged the government to support fiscal stimulus policies. ... Read full article

Community bankers keep harping on the illusory issue of "too big to fail." If they're serious about strengthening the economy, they should make more of an effort to unite the industry, not divide it. ... Read full article

Maybe Congress shouldn’t be so quick to change laws without real-world input. ... Read full article

Wells Fargo remains the TBTF poster child and regulators continue to do too little to address the problem. And as always, small banks suffer collateral damage. ... Read full article

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks. ... Read full article

Giving more Community Reinvestment Act credit to such partnerships will help low-income communities, despite industry concerns. ... Read full article

The author of a recent op-ed fails to realize that making credit unions pay corporate taxes would drive up costs for customers and weaken the economy. ... Read full article

Congress should further expand a tiered regulatory system to help community banks better serve local neighborhoods. ... Read full article