Banks are taking back more farmland through foreclosure than at any point in the past three years as low crop prices, epic flooding and the Trump administration’s trade spat with China have left many farmers struggling to pay their debts.
The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending.
It’s hard to time the next economic slowdown. But lenders, many with lingering memories of the financial crisis, are taking steps now to limit exposure in commercial real estate, construction and other loan segments.
Civil rights activist Jesse Jackson is pushing a proposal that the billions banks have paid in fines be given to Americans who lost homes or suffered in other ways during the financial crisis.
Credit card issuers would have to set aside more in reserves because of higher loss histories, according to research by Keefe, Bruyette & Woods on the impact of the new loan-loss standard.
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.
