The head of the agency said she wants FDIC staff to be proactive with banks that show visible problems, but not “focus more on seeking out dirt than on whether the home is clean.”
The changes will expand the role of the Consumer Advisory Board and other panels, but stopped short of reversing the downsizing ordered last year by former acting Director Mick Mulvaney.
An eight-month-old consent order appears to be forcing the San Francisco bank to grapple more deeply than it did previously with the many failures that led to its account-opening scandal.
Dozens of House members and four senators agree with arguments by farmers and lenders that a proposed change to the 7(a) program would disqualify worthy borrowers.
A motion to limit debate on the nominee to run the consumer bureau passed along strictly party lines, setting the stage for her to be confirmed as early as next week.
Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.
