Shadow lenders poised to get tougher rules in global crackdown


Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility.


Nonbank sector needs reform to combat risk to financial stability: Fed


Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report.


OCC clarifies who is 'true lender' in bank-nonbank partnerships


The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.


Trump vs. Biden: What’s at stake for banks


The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.


As states and OCC keep butting heads, does innovation suffer?


Backers of lawsuits challenging federal charter and interest rate policies for nonbanks say states are sticking up for consumer protection. Others say the legal quagmire could slow efforts to improve the regulatory framework.


Student borrower protection bill on verge of passage in California


The legislation, which would apply to both banks and nonbanks, would give borrowers the right to sue for damages when servicing violations occur.


Rakuten withdrawal a relief for banks, but ILC saga's far from over


The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.


California’s ‘mini-CFPB’ plan is back in play. Banks aren’t happy.


A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.


PPP had its strengths. Its successor can be stronger.


A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.


Cash-advance pioneer Yellowstone accused of deception by FTC


The company falsely advertises its cash advances as requiring no collateral or personal guarantee, according to a lawsuit filed by the Federal Trade Commission.