University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.
Banks will likely continue to exercise caution in the wake of Facebook's announcement that it’s restricting the way providers of housing, employment and credit advertise on its site.
Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.
Federal Reserve Board Gov. Lael Brainard said public comments demonstrate a desire among stakeholders for reforms to be implemented consistently across the Fed, OCC and CRA.
The U.S. Supreme Court turned away a broad challenge to the structure of the Consumer Financial Protection Bureau, the agency that Republicans say has stifled economic growth through over-regulation.
The announcement rescinded the agency's earlier guidance issued to industry partners to suspend sales operations as a result of the current lapse in funding from Congress.
Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.