Policy & Regulation

The recent ineffectiveness of Federal Reserve monetary policy and macroprudential rules begs the question whether the Fed needs to revise recent bank regulations, its own mission or both.

After Wall Street has spent years trying to convincing regulators how they could collapse without disrupting the financial system, the largest U.S. banks will soon have to take the additional step of showing how they can keep from failing in the first place.

The agency has struggled with how to regulate small-dollar and payday loans in recent years, pushing back its own deadline several times for completing a proposed rulemaking. That could be because the plan is so sweeping, some said.

Over the past three decades William Cooper has led TCF Financial through two crises and reinvented the bank to keep it profitable. He also sued the Federal Reserve in the aftermath of the financial crisis, for imposing a cap on debit card fees. For his strong leadership in the industry — as well as his candid, off-the-cuff style — American Banker has named him its lifetime achievement honoree.

The agency made good on a vow to make 2015 the "year of regulatory relief," causing headaches for the banking industry in areas such as field of membership and member business lending.

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The first state inquiry into marketplace lending is seeking information from a broad mix of companies, including consumer lenders, small-business lenders, and firms that are not primarily in the lending business.

WASHINGTON — Fannie Mae and Freddie Mac would be able to evaluate and use new credit scoring models under a bill introduced in the House that seeks to create more competition in the credit scoring industry.

Rep. Maxine Waters, D-Calif., reintroduced legislation Friday to strengthen the government’s ability to prosecute individuals who break anti-money laundering and terrorist financing rules.

News that two suspected terrorists took out a loan with a prominent marketplace lender has fueled fears online lending is more susceptible to terrorist financing. Yet experts said that the criticism directed at the industry appears unfounded. Here's why.