Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.
The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.
The company has revised its near-term forecasts for reducing expenses, citing delayed branch closings and a decision to spend more time testing systems ahead of conversion and integration.
The agency has named Thomas G. Ward as the bureau’s assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.
The new regulation aims to standardize the process for determining if those owning less than a quarter of a bank must comply with holding company requirements.
