Ian McKendry

The Dodd-Frank Act’s $50 billion threshold for determining which banks are systemically important should be scrapped and replaced with an indicator test, according to the Office of Financial Research.

Republicans were able to use an obscure legislative process to overturn a rule that banks and credit unions feared would raise their litigation costs.

The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, and the fallout could be significant for all sides.

With days ticking down for lawmakers to overturn the Consumer Financial Protection Bureau rule, some are now questioning the statistics used to challenge the bureau’s data.

Top executives at nineteen regional banks sent a letter to the Senate Banking Committee endorsing a bill that would change the systemically important financial institution threshold from $50 billion in assets to an indicator test.

The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits.

Some housing groups are warming to an idea that they say could help more Americans benefit from housing-related subsidies than the mortgage interest deduction.

Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday.

Acting Comptroller of the Currency Keith Noreika pushed back against concerns that his agency's proposed fintech charter will unduly benefit nonfinancial firms.

In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep.

The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said.

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

Senate lawmakers will soon introduce a bill that could more than quadruple the current $50 billion threshold to be considered a systemically important bank, National Economic Council Director Gary Cohn said Monday.

Minorities are more likely to turn to a financial technology firm than a bank when seeking a business loan, but they may pay higher interest rates, according to the preliminary results of a congressional investigation released Monday.

The bills were individual pieces of the larger Financial Choice Act, including measures to raise the systemic threshold for banks and raise the threshold for banks subject to CFPB supervision.

The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.

For all the anticipation that preceded the Consumer Financial Protection Bureau's final small-dollar lending rule, a picture of how the rule will affect banks and credit unions is still quite hazy.

The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product.

Randal Quarles was confirmed 65-32 as a Fed governor, and by voice vote as the vice chairman of banking supervision.

The Senate invoked cloture to begin the process of confirming Randal Quarles as a governor on the Fed board.