The Federal Deposit Insurance Corp.'s No. 2 said deposit insurance helps prevent bank runs, but can also make banks more prone to taking on risk that can cost the public.
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.
For all the anticipation that preceded the Consumer Financial Protection Bureau's final small-dollar lending rule, a picture of how the rule will affect banks and credit unions is still quite hazy.
The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product.
A bill backed by House Democrats would establish a process to review big banks for patterns of consumer violations, ending possibly in culpable institutions losing their charter.
Cynthia Blankenship, an executive at Bank of the West in Grapevine, Texas, has been a regular in Washington for years fighting for regulatory changes. She is encouraging other bankers to do likewise.
Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax.
Though FHFA Director Mel Watt stopped short of saying he would break with a Treasury agreement that forces all profits of the GSEs to go to the government, he emphasized that it couldn’t continue indefinitely.
After the FSOC voted to rescind its systemic designation for AIG, it's unclear whether the interagency council will continue to appeal a court ruling overturning MetLife's SIFI designation.
