There's a better way to regulate small-dollar lending

12/04/19

Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks.

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The Navy commander behind the credit union banks love to hate

12/03/19

Navy Federal Credit Union is Exhibit A in banks' case to tax the credit union industry. But it wasn’t always seen as the powerhouse it is today. Meet Adm. Cutler Dawson, the man who changed that.

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What ongoing repo turmoil means for banks

12/03/19

Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues.

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Two fintechs broaden banking ambitions

12/03/19

Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans.

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Regulators give wary nod to use of alternative data in underwriting

12/03/19

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said.

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FDIC's McWilliams 'inclined' to join OCC on CRA but still has concerns

12/03/19

Her comments signaled cooperation between the two agencies on a coming proposal to revamp the Community Reinvestment Act, but she raised questions about CRA assessment areas and developing a single compliance metric.

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FDIC asks for feedback on its approach to cost-benefit analysis

12/03/19

The agency said it plans to make its cost-benefit process “more structured” and incorporate “a number of analytical practices identified in standard references.”

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CFPB proposes expanding safe harbor in remittance rule

12/03/19

The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers.

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BB&T sues vendor Hitachi Vantara over costly 2018 outage

12/03/19

BB&T has said the outage, which blocked customers' account access for hours, cost it about $20 million.

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Trump loses appeal over Capital One, Deutsche Bank subpoenas

12/03/19

The ruling by a three-judge panel means the president will lose control of his long-secret business and personal records at the two banks unless the full court reconsiders or the U.S. Supreme Court blocks the decision.

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