Law and regulation

Industry figures have begun to speak out in support of demonstrations in the wake of the deaths of George Floyd and other African Americans, and new data is expected to show how the coronavirus impacted balance sheets.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.

The credit union regulator is adding line items to required quarterly reporting in order to better account for loan forbearance, CUs lending through the Paycheck Protection Program and more.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The panel shot down a proposed interim final rule regarding time limits for overdrafts, the first time in recent memory that an issue before the board did not have the votes to pass.

The credit union regulator has implemented a host of measures to help the industry manage the pandemic, but there may be only so much it can do without congressional action.