A House Republican bill would allow lax lending standards to creep back into the financial system by gutting the CFPB, according to a letter from 158 law professors and scholars.
Democrats in the House and Senate introduced a bill Tuesday that would get rid of an obscure legislative process that has handcuffed rulemakings from the Consumer Financial Protection Bureau and other regulators.
Stilwell Group, an activist investor, is alleging that HopFed chief John Peck bought two properties from the then-chairman of the Kentucky company's compensation committee and that the deals were a conflict of interest.
FHFA Director Mel Watt warned Thursday that to prevent a potential draw on the Treasury Department by the government-sponsored enterprises, he is willing to act unilaterally to rebuild capital at Fannie and Freddie.
The U.S. Chamber of Commerce and U.S. Bank urged the Consumer Financial Protection Bureau on Wednesday to narrow its approach to collecting data on small-business lending, fearing it could add costs and compliance burdens.
The Consumer Financial Protection Bureau plans to launch an inquiry into small-business lending, the first step toward crafting a rule for the collection and reporting of data.
Despite an effort by the Trump administration to defund government aid for community development funding institutions, the Senate approved a budget deal that included $258 million in funding for the CDFI fund.
