Opinions

House forgiveness plan for Paycheck Protection Program loans is better than nothing, bankers say; why some banks still lean on mainframes; what's next for Goldman Sachs's Marcus; and more from this week's most-read stories.

Control of the U.S. Senate hangs in the balance in the upcoming election, with the outcome determining the direction of laws and regulations that can have a profound impact on financial services, technology, fintech and payments innovation.

The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.

While the two agencies have disagreed on key areas of reforming the Community Reinvestment Act, the acting comptroller of the currency said there is commonality between their two approaches and he has not given up on developing a joint plan.

The bank contends that the misconduct wasn't widespread, but a whistleblower letter unearthed by the Consumer Financial Protection Bureau points to Chicago as a hotbed of customer abuse. "We are becoming a 'predatory' financial institution," the 2010 letter said.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

At a time when the industry is focused on serving members and assisting with the economic recovery, executives shouldn't be burdened by a costly new credit loss methodology.

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.

Atlantic Community Bankers Bank must improve its anti-money- laundering and Bank Secrecy Act policies and procedures.

From a fraud prevention perspective, there are several difficulties in detecting and stopping funeral home fraud, says The ai Corporation’s James Crawshaw.