Opinions

For too long, the Consumer Financial Protection Bureau's rulemaking process has been informed by its director's political affiliation. The next leader must keep the agency focused on its mission: protecting consumers.

Some applaud the agency's recent delay of the mandatory compliance date for a new Qualified Mortgage standard. Others say it leads to more uncertainty for lenders, opens the door to additional changes and enables some companies to loosen their underwriting.

The Dallas company has given Summer Faussette, an external affairs executive, the additional role of national African American business development manager, with a special focus on networking with nonprofit organizations.

Regulations that merely reflect the beliefs of whoever’s in power undoubtedly get unwound by the next round of leaders. Policies will stand the test of time if they are focused on addressing inequalities in the financial system.

The industry wants regulators to extend a temporary measure making it easier to satisfy the supplementary leverage ratio. But Democrats’ control of the White House and Congress has given a bigger platform to those who say banks have had enough relief.

The bank must submit a plan for improving its risk management and decreasing its commercial real estate exposure, the Federal Reserve said in an enforcement order.

The agency issued a proposal moving the compliance date for the Qualified Mortgage rule revamp to October 2022.

As the Federal Reserve continues to explore issuing a digital U.S. dollar, the Biden administration and key congressional leaders are endorsing the idea as a way to expand banking access for underserved consumers.

The U.S. economy expanded modestly in the first two months of the year and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth, the Federal Reserve said.

Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight.