While the banking industry is winning over low- and middle-income groups, it is still trying to regain the trust of high earners who were stung during the financial crisis.
A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.
The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.
The payments processor Square has big plans in banking — but even after filing an application to charter an industrial loan company, it still doesn’t see itself as a competitor to most financial institutions.
The Massachusetts company hired banking veteran Mark Thompson, who recently scrapped an effort to buy a struggling bank in Boston, as its bank president.
Former ChairmanCommodity Futures Trading Commission
Some proponents of repealing crisis-era regulatory reforms argue that higher capital levels offer better protection. More capital is good, but it alone won’t solve every problem.
LendingPoint, which caters to borrowers with damaged credit records, believes that traditional credit scores are overly pessimistic about the likelihood that certain borrowers will repay.
Former Chairman
Commodity Futures Trading Commission
Some proponents of repealing crisis-era regulatory reforms argue that higher capital levels offer better protection. More capital is good, but it alone won’t solve every problem.
Counsel
House Subcommittee on Regulatory Reform, Commercial and Antitrust Law
A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.
Professor of City Planning
University of Pennsylvania
Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years.
Index points to steady if slightly slower growth in the month. A key question: Do readings in delinquencies and loan rejections point to a turn in consumer credit?
Post-election exuberance about the prospects for rollback of Dodd-Frank regulations has been tempered by the political realities facing the President and Congress.
