CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director.
The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.
It was mostly good news for banks in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile, with higher earnings and net interest margins. But there were concerns as well, including slower loan and deposit growth.
The agency's Quarterly Banking Profile said banks earned $47.9 billion in the third quarter, helped by a 7.4% increase in net interest income from the previous year.
The banks fell in global regulators’ ranking of the institutions that pose the biggest threats to the financial system, and authorities recommended they face lower capital surcharges.
Legislation and regulatory policy that takes a heavy-handed view of overdraft protection could remove a safe and convenient option for consumers managing their finances.
Zions Bancorp. appears to have found a novel approach to escape the added requirements for banks above the Dodd-Frank Act's systemic $50 billion asset threshold, but other banks in a similar position are more likely to wait for Congress to address the issue rather than following suit.
Federal Reserve Chair Janet Yellen announced Monday that she intends to step down from the Board of Governors after her successor is sworn in when her term expires early next year, ending any speculation that she may stay on.
The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans.
