A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.
The Conference of State Bank Supervisors has proposed creating model payments legislation that states could adopt to improve the state-by-state licensing process.
The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act.
Readers react to a regulator's promise to reduce regulation that hinders innovation, Sen. Elizabeth Warren's plan to impose heavier taxes on lobby groups, Freddie Mac's exploration into AI and more.
The central bank will consider rules to create a tiered structure for supervising banks with over $100 billion of assets and to ease resolution plan requirements.
