As evidenced by a Senate hearing, Republican and Democratic lawmakers still live in alternative universes when it comes to financial regulatory policy.
Draft legislation to make annual testimony mandatory for the chiefs of the largest banks was added to the agenda of a House Financial Services Committee hearing set for Thursday.
Under the Treasury Department's Financial Agent Mentor-Protégé program, JPMorgan Chase is advising two black-owned banks on working with the agency in ways that could boost their fee income.
Eric Blankenstein, the CFPB's policy director for supervision, enforcement and fair lending, has been criticized for using a racial slur in blog posts 15 years ago and claiming the majority of hate crimes were hoaxes.
The total includes donations to community groups helping low-income people, support for the development of financial coaching programs and investment in the creation and testing of fintech tools that can help underserved people.
A recent court decision allowing New York’s financial regulator to proceed in a case meant to block the Office of the Comptroller of the Currency from offering fintechs a new federal banking charter is having a chilling effect on potential applicants.
The Defense Credit Union Council and the Association of Military Banks of America sent dueling letters to Congress about whether banks should pay for space on military installations.
The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.
