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Republican Sen. Joni Ernst is calling for more scrutiny of 10 lenders that were ejected from a Department of Agriculture program. Several of the lenders are pushing back, questioning officials' characterizations of their lending results and announcing appeal plans.
June 5
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The Bureau of Labor Statistics Friday reported that the economy added 172,000 jobs in May and revised March and April's employment upward, making the Federal Reserve less likely to cut interest rates to support the labor market in the near term.
June 5
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As more banks pursue tokenized deposits, TCH is enabling clearing and settlement for transactions between institutions.
June 5
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A study released by Ficomm Partners and Absolute Engagement found that nearly 9% of high net worth investors turned to AI over a human for referrals. This shift in referral inquiries offers advisors an opportunity to deepen digital presences.
June 5
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Median total compensation for certified financial planners climbed to $195,000 last year. But pay varied widely, depending on factors like experience and type of firm worked at.
June 5
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The joint advisory by the Financial Crimes Enforcement Network, banking agencies and the Internal Revenue Service issued guidance for banks to detect unauthorized employment schemes as part of the administration's broader immigration crackdown.
June 5
- AB - Policy & Regulation
All 11 Democrats on the Senate Banking Committee are backing a bill that would restore and lock in funding for the Consumer Financial Protection Bureau.
June 5
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Even the Federal Reserve has limited visibility into the nonbank and private credit markets. That's a problem for banks that are increasingly lending to those sectors.
June 5
American Banker -
Applications from Enova International and Opportunity Financial for national bank charters present a danger to consumers. The Federal Reserve and Office of the Comptroller of the Currency should block them.
June 5
The Center for Responsible Lending -
Mortgage industry participants say Federal Housing Finance Agency Director Bill Pulte's new role as acting director of national intelligence could imperil progress on a potential initial public offering of Fannie Mae and Freddie Mac.
June 5
