Bankers would like to take advantage of digital marketing tools that target customers similar to their own, but there are persistent fears that doing so could make financial institutions run afoul of regulatory restraints.
Top Democrats in the House and Senate sent a letter to Mick Mulvaney on Wednesday questioning his decision to delay the implementation of the Consumer Financial Protection Bureau’s payday loan rule.
After reporting its fourth-quarter earnings, the subprime auto lender said it expects the new tax law to enable more car owners to stay current on their loans.
The decision by the appeals court means that a president can only fire the head of the Consumer Financial Protection Bureau for cause. But the ruling also scrapped the CFPB's massive fine against a nonbank mortgage lender.
As it secures new funding and creates a joint venture in Japan, Moven says it is close to becoming a full-fledged U.S. “challenger” by purchasing a traditional bank.
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.
The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.
Wells has tapped Sarah Dahlgren for a newly created position overseeing regulatory relations as the megabank tries try to remove the cloud of its phony-accounts scandal.
