Opinions

Consumer Financial Protection Bureau Director Rohit Chopra says that a recently proposed data-access rule would provide a competitive edge to small banks over their larger competitors.

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.

The Consumer Financial Protection Bureau's proposal would give consumers a legal right to grant third parties access to financial data for a specific use, but firms cannot sell the data or use it for their own benefit — including by feeding it into algorithms or artificial intelligence.

The Federal Reserve vice chair for supervision says the failure of Silicon Valley Bank showed the shortcomings of the current stress testing regime.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

Not only could warehouse lines of credit be impacted by the U.S. version of international Basel rules, and financing secured by mortgage servicing rights may be, too.

California-based Star One is sharing its experience with smaller banks and credit unions, in an effort to get more to offer the government-backed real-time payment rail.

The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.

The Federal Reserve is expected to pause at its September meeting. Jeff Timlin, a managing partner at Sage Advisory, will join us on Sept. 21 to provide analysis of the meeting.

The Consumer Financial Protection Bureau alleged in a lawsuit that the nonbank lender violated a 2019 consent order and submitted incorrect information in 2020.