The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.
In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that do so.
An intraparty rift went public Wednesday over legislation that would impose a 36% rate limit on all consumer loans. Critics are concerned it would cut off minority borrowers’ access to small-dollar loans and hurt some community banks.
Popular’s branch in a Brooklyn neighborhood faced an uncertain future until it was designated as a bank development district. Now it’s eligible to receive millions of dollars in municipal deposits.
JPMorgan Chase may jump back into a mortgage program that helps low-income Americans buy homes, mulling a return years after most banks pulled back from the business in frustration over billions of dollars in penalties.
Following the State of the Union speech Tuesday, Republican lawmakers hailed the president's economic record while Democrats continued criticism of an administration plan to reform the Community Reinvestment Act.
The timing couldn’t be worse for ag and energy lenders as well as global banks, which were all counting on the Chinese market to help bolster commercial lending and fee income.
