PayThink

Making home loans that aren't "qualified mortgages" will soon carry legal risk. Will making only QM loans expose lenders to fair-lending claims under the disparate impact doctrine? Washington must clarify.

During the Credit Union National Association conference on Wednesday, Richard Cordray, the director of the Consumer Financial Protection Bureau, said smaller financial institutions should lend beyond a new ultrasafe class of mortgages created by the agency.

Checking account regulations are outdated even for their primary product. Why would you want to regulate prepaid cards with a set of archaic rules?

At a Credit Union National Association conference in Washington on Wednesday, Sen. Elizabeth Warren defended both the Consumer Financial Protection Bureau and its director Richard Cordray.

If a customer connects to an open Wi-Fi network, fails to follow adequate Bluetooth communications protocol or uses shoddy passwords on smartphones, a bank's internal networks may be exposed to fraud.

Now, with an ATM that directly converts paper cash to bitcoin anonymously, the interaction is with a machine rather than another human. No more face-to-face meetings, no more counterparty risk.

The fact that the bulk of the relief from the national mortgage servicing settlement is going to short sales is a huge victory for the economy, consumer advocates' howls notwithstanding.

Directors can stay ahead of the curve by visiting the "factory floor," aligning compensation with compliance and requiring explanations when business management fails to self-identify issues.

Rep. Jeb Hensarling, the new chairman of the House Financial Services Committee, continued his criticism of the 2010 Dodd-Frank Act on Tuesday.

Small banks are concerned about the Consumer Financial Protection Bureau's enforcement potential over fair lending laws.