The Consumer Financial Protection Bureau said 42% of car loans issued in the last year had a repayment term of six years or more, a huge leap over the 26% of car loans that had such longer terms in 2009.
Fifth Third, U.S. Bancorp and others aim to design a short-term credit product that would satisfy their various regulators, but exactly how and how quickly they should go about it is murky at this point.
Call-report data on commercial and industrial loans does not fully capture small-business lending by smaller institutions, a recent FDIC survey suggests.
Following the release of the nonbinding statement of policy, regulators still have an important role to play in making sure the industry achieves an effective data-sharing model.
Since Zelle's earliest days as the clearXchange network, the banks behind the P-to-P platform have promised that it could have a role in the business world. U.S. Bank has begun the next chapter by offering Disbursements via Zelle.
In a somewhat surprising decision, House Financial Services Committee Chairman Jeb Hensarling announced his retirement from Congress on Tuesday, but speculation immediately grew that he could fill a regulatory post.
A securities settlement, portfolio asset sales and greater interest among smaller lenders helped Freddie Mac compensate for potential losses from the catastrophic hurricane season.
