Policymaking

Don’t overhaul CRA just for the sake of it

05/06/19

Proposals to modernize the Community Reinvestment Act should be geared toward making concrete improvements, not upending parts of the law that are already working.

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‘Mini CFPB’ won’t solve California’s bank regulation problems

05/03/19

The state should overhaul its Department of Business Oversight, but proposals to create a statewide financial protection bureau miss the mark.

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'Good luck with legislating innovation': Comments of the week

05/02/19

Readers respond to JPMorgan's Twitter gaffe, weigh the role banks should play on issues like climate change, consider the impact of artificial intelligence on fair lending and more.

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House extends subpoena deadline for Deutsche Bank, Capital One

05/01/19

The banks were ordered to submit records related to President Trump's businesses, but lawmakers have agreed to give the companies until seven days after a judge rules on the Trump family's request to block the subpoena.

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Fair-lending laws haven’t caught up to AI

05/01/19

Government officials must address the policy questions raised by the use of artificial intelligence in credit decisions.

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Obey Congress or Trump? Deutsche Bank, Capital One in no-win situation

04/30/19

Congress has broad subpoena powers to demand the president’s financial records, but no bank wants to disclose confidential information about a powerful client.

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Durbin reintroduces bill to cap consumer loans at 36%

04/30/19

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.

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Debt collectors need clearer telecom rules

04/30/19

As the CFPB moves closer to updating its debt collection regulations, revising restrictions on phone calls and other communications with consumers must be a priority.

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Virtue-signaling banks hurt shareholders and customers

04/29/19

Financial institutions should focus on maximizing returns instead of feel-good initiatives to cut greenhouse gas emissions or reduce gun financing.

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FASB’s accountability problem

04/26/19

The standards board has been granted vast authority without having to answer to policymakers, and its latest accounting method, CECL, will be a disaster for small banks.

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