Policy & Regulation

Top executives at nineteen regional banks sent a letter to the Senate Banking Committee endorsing a bill that would change the systemically important financial institution threshold from $50 billion in assets to an indicator test.

Federal Housing Finance Agency Director Mel Watt said the agency is poised to examine alternatives to how a Fannie Mae and Freddie Mac assess creditworthiness of home buyers, including seeking public comment on the issue later this fall.

British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.

Though they won’t name names, fintech leaders claim tier-one U.S. banks string them along, fail to communicate, don’t pay anything and, worst of all, out-and-out steal intellectual property.

The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability.

The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits.

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

Bank fires four forex traders, while the OCC slams its auto lending practices; United wants to renegotiate its co-branded credit card agreement with JPM.

The regulator is moving forward with a plan aimed at making it easier for credit unions to challenge supervisory decisions.

Readers weigh in on online lending growth, how President Trump’s healthcare policies affect lenders, regulation’s effects on community banks and more.