While equity prices drop an average 5% at big banks, bosses express confidence in the U.S. economy; the bank appoints new managers in payments, consumer banking and marketing.
An internal agency analysis says changing the name of the bureau to the BCFP, as Mulvaney wants, could cost banks, credit unions and mortgage firms $300 million. It doesn’t have to be this way.
Readers weigh in on consumers taking on more debt, President Trump's criticism of the Federal Reserve and Zions CEO Harris Simmons as Banker of the Year.
A motion to limit debate on the nominee to run the consumer bureau passed along strictly party lines, setting the stage for her to be confirmed as early as next week.
Kathy Kraninger, who may get a confirmation vote as early as this week, has suggested a similar vision to that of the agency’s current acting chief. But some see signs she could bring a different approach to the job.
Reversing a previous order, the Texas judge granted part of the bureau's request to stay the effective date and allow time for the agency to work on changes to the rule.
The report by the Consumer Federation of America said the regulatory agency has "ample legal authority" to enforce the Military Lending Act despite the bureau's plans not to examine firms for compliance.
