Policy & Regulation

The forces reshaping small-business lending are also leading to “a moment of reckoning” for small banks, says former SBA head Karen Mills.

Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger.

The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions.

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks.

Manuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.

Rodney Hood, chairman of the National Credit Union Administration board, will testify later this week before a Senate committee with CECL as a likely topic.

The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records.

The Federal Housing Finance Agency has named three senior advisers for policy, economics and communications.

Financial institutions have often criticized the agency’s publication of consumer complaints. But the information provided can offer executives important insights into looming problems that might not yet have come to light.

The credit union regulator’s proposal to raise the threshold for home-sale appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.