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Sen. Bernie Sanders says a 15% cap on federal credit union lending has "worked well." But it's never really been in place.
Sen. Bernie Sanders' victory in New Hampshire will undoubtedly boost his campaign, but his plan to cap interest rates for credit card and other consumer loans at 15% won't help anyone in the short term and could potentially wreak havoc on low-income people in the long term. Here's how.

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The proposal is unlikely to pass, but does shed light on the administration's plans for housing finance reform, how it views cybersecurity progress and a proposed tax on bank liabilities that could become a reality if a Democrat takes the White House in November.  more »
Bankers, irate with the NCUA's plan to expand field-of-membership for certain credit unions, are flooding the agency with comment letters. The NCUA has received 10,500 total letters, or more than triple the previous record for such responses.  more »
The Obama administration announced a new cybersecurity strategy on Tuesday, calling for a 35% increase in funding to bolster private and public defenses and the creation of a new chief information security officer position for the government.  read more »
Bank of Prairie Village in Kansas went through a core conversion last year. Its chairman hopes that his sons, who are set to take over the bank eventually, won't be afraid to embrace new technology since they've experienced the scariest of all bank IT projects.  read more »
FinTech Forward
Why a Former Trust Company Launched a Digital-Only Bank
Rather than partner with a startup, 45-year-old Equitable Bank in Canada created a separate brand, EQ Bank, to acquire customers who are ready for an account without a debit card.  read more »
PL Capital is raising money for a new fund that'll target banks with up to $75 billion of assets, after 20 years of sticking to just community banks with less than $3 billion of assets. In this Q&A, Richard Lashley explains why activist investors are eyeing bigger banks now and how banks can avoid his kind.  read more »
Online lenders like Aprenita, Payability and Pollen VC have all launched within the last 13 months to fill a need they say is not being met by traditional banks, and only partially by venture capitalists and invoice-financing companies.  read more »
Banking has been quiet compared with other industries, but now activist investors are bulking up and planning to go after bigger targets. Look for the next M&A wave to be fueled by these aggressive hedge funds as they push for board seats and ultimately a sale.  read more »
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