The Consumer Financial Protection Bureau’s likely decision to pare back its final rule on small-dollar lending may help guard it against a congressional rollback and pave the way for bankers to return to the space.
The purpose of the stress tests program is to reassure the public that the banking system is safe, but the stress tests are not an independent assessment of financial institutions’ actual strength.
The massive flooding in Texas is sure to put pressure on lawmakers to resolve differences over the National Flood Insurance Program, but a short-term extension of the program is still the most likely scenario.
Republicans are already accusing CFPB Director Richard Cordray of misusing his job as a fundraising platform while many agency allies want him to stay.
With the deadline for a federal-debt-limit renewal nearly a month away, bankers are dreading the prospect of higher funding costs, strained liquidity, weaker commercial loan demand and other ramifications if Washington does not act.
The Office of the Comptroller of the Currency issued a proposal Wednesday that would raise the appraisal threshold for CRE loans to $400,000 from $250,000.
The banking industry had mostly good news in the FDIC's Quarterly Banking Profile, with higher profits helped by interest income. But there were worrying signs too, including a big jump in credit card chargeoffs.
