Policy & Regulation

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution.

The legislation would require the restructuring of financial institutions that have a total exposure exceeding 3% of the nation’s GDP.

Banks are being encouraged to offer smaller loans as an alternative to payday products, but their high interest rates can still put consumers in debt.

Otting says the bank is not moving fast enough to repay customers who were unfairly sold auto insurance; lack of regulation lets traders use software to move prices.

The economy could “positively slow down in mid-2019” and consumer debt levels are a huge concern, but technology and lessons learned from the crisis could still create opportunity for small banks, says Beneficial’s Gerry Cuddy ahead of a big speech on current conditions.

National Credit Union Administration Chairman Mark McWatters called on lawmakers to further expand field-of-membership options for CUs and to permit the regulator to oversee third-party vendors, including fintech partners.

Financial regulators sought to walk a fine line Tuesday between reassuring Republican senators that they are quickly implementing regulatory relief and defending themselves against Democratic criticism that they are going too fast.

The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."

The head of the National Treasury Employees Union said the appointment of Eric Blankenstein to a senior role “reflects poorly on CFPB management.”

The central bank is mulling measures to broaden the number of banks receiving reg relief; Lisa Stevens was a top deputy to the former retail chief during the phony accounts scandal.