CFPB to extend 'qualified mortgage' exemption for GSEs, report says
Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021. ... Read full article
Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021. ... Read full article
The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China. ... Read full article
Moynihan says the bank’s consumer market share could be doubled; retail terminals would connect customer’s hand print with their card information. ... Read full article
Adam Dell, founder of Clarity Money and now head of product at Marcus by Goldman Sachs, the design theory behind the new app. ... Read full article
The central bank is aiming to finish a rule creating a streamlined capital buffer ahead of the upcoming round of stress testing, but industry experts say that timeline may be too ambitious. ... Read full article
Under terms of the settlement approved by a Georgia court Monday, Equifax may also have to pay an additional $125 million if the initial amount doesn't cover all the claims. ... Read full article
Truist emphasizes high-touch, high-tech focus with new logo; Wells Fargo loses another patent lawsuit to USAA; what the Visa-Plaid merger means for banks, fintechs; and more from this week's most-read stories. ... Read full article
Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds ... Read full article
Citizens Financial Group’s fourth-quarter results highlight the challenges regionals face in generating top-line growth. ... Read full article
The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran. ... Read full article
The central bank’s top regulatory official laid out a comprehensive set of proposals to update how the agency supervises banks — particularly large institutions — with an eye toward improving transparency. ... Read full article
The agency issued a fair housing proposal last month that would perpetuate segregation and make it harder to detect discrimination. ... Read full article
The investment bank is raising its return on equity target following a record earnings year; Democrat lawmakers say JPMorgan's response on racial discrimination questions was inadequate. ... Read full article
Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year. ... Read full article
The president tapped the pair in July for the two remaining vacancies, but the formal announcement of his intention to nominate them didn’t come until this week. ... Read full article
Visa's deal to acquire the data aggregator Plaid is likely to have ripple effects throughout the industry, including less fintech-tech tension over sharing data. ... Read full article
Savings for the top six U.S. banks from President Donald Trump's signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders. ... Read full article
The acquisition will vastly expand Visa's platform, giving it nearly Amazon-like influence. ... Read full article
The House Financial Services Committee chair asked two regulatory agencies about what steps they've taken to prevent fabricated comment letters as they invite the public to weigh in on Community Reinvestment Act changes. ... Read full article
Morgan Stanley’s profits rose 46%; the deal pressures China to open its financial services sector to U.S. firms. ... Read full article