Financial regulations

The Ohio Democrat argued that the public wouldn't be able to meaningfully provide feedback on rules given the stressful circumstances related to the outbreak.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

Many new artificial intelligence and machine learning methods used for underwriting are not fully equipped to predict defaults.

The National Credit Union Administration also ordered its own employees to work from home until at least the end of March.

As the health crisis upends the United States, credit union trade groups have called for lawmakers and regulators to provide relief for institutions dealing with the pandemic's impact.

Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts.

The Consumer Financial Protection Bureau says the Cincinnati bank engaged in aggressive sales practices and open bank and credit card accounts without consumers' authorization in order to meet sales targets.

Leonard Chanin, a senior official at the Federal Deposit Insurance Corp., has been tapped to serve on a part-time basis as the No. 2 official at the Consumer Financial Protection Bureau, according to a news report.

Recent political controversies are forcing credit unions and industry groups to reconsider their support for lawmakers they previously endorsed.

Debt collectors would have to tell consumers upfront that they cannot sue to recover "time-barred" debt under a proposal issued Friday by the Consumer Financial Protection Bureau.