News Topic: Nonbank

The Consumer Financial Protection Bureau was created in part to ensure that nonbanks are subject to federal oversight, but the fact is that 99% of banks are exempt from CFPB supervision. ... Read full article

The share of purchase and refinance loans originated by nonbanks are at their highest point since at least 1995, according to an analysis of new Home Mortgage Disclosure Act data. ... Read full article

The Trump administration has implemented an apparent role reversal for the Financial Stability Oversight Council, leaving the true intended role of the post-crisis systemic risk body unclear. ... Read full article

Many of the arguments in this debate have less to do with the applicants’ qualifications than with traditional banks’ fear of new, innovative competitors. ... Read full article

Not only did Walmart's bid for an industrial loan company galvanize bankers, it also turned the ILC world upside down. ... Read full article

More than a decade after Walmart’s unsuccessful banking bid, the core reasons to oppose nonbank conglomerates owning banks remain the same. ... Read full article

Critics of the industrial bank charter, as well as those who support more mixing of banking and commerce, describe the intent of industrial banks inaccurately. ... Read full article

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac. ... Read full article

Events of the past decade demonstrate that further tearing down firewalls between banking and non-banking businesses would be a huge mistake. ... Read full article

It is only a matter of time before bankers and policymakers realize that the concept keeping banks and non-financial entities apart no longer has any underlying support. ... Read full article

It's not only regulation that is hurting profitability, but also banks' failure to adapt to the internet age, according to a recent study. ... Read full article

Operational changes may be enticing to investors, but they threaten the very foundation of marketplace lending, potentially shutting out those the burgeoning sector was meant to serve. ... Read full article

The New York firm, which offers high-cost credit to small businesses, has attributed its recent struggles to certain loans performing worse than had been expected. ... Read full article

Banks and nonbanks are typically foes, but banks made 34 nonbank M&A deals through mid-May, emerging as buyers in two-thirds of them. Many buyers are eager to pad fee income by adding investment, specialty finance or insurance firms; sellers are ... Read full article

The interagency regulator says it needs time to coordinate with member agencies on its SIFI designation process. ... Read full article

Readers weigh in on Wells Fargo investors reelecting state regulators suing the OCC, Wells Fargo's annual meeting, ultralow interest rates and more. ... Read full article

The onslaught of regulatory actions against Ocwen may open the door for Nationstar to pick up a massive subservicing portfolio from the beleaguered servicer. ... Read full article

Congressional action to reform housing finance is ultimately needed, but we must confront the risk of continued drift and inaction if Congress is unable to act. ... Read full article