Politics and policy
The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.
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The megabank will cover costs incurred by employees and family members who travel out of state to receive an abortion. The policy drew immediate fire from Republicans in Texas, which has banned abortions after six weeks of pregnancy, and where Citi has been tangling with the GOP over gun policies.
March 16 -
Rep. Patrick McHenry, R-N.C., said at an American Bankers Association summit that if Republicans win majority control of the House in the upcoming congressional elections, they would “unleash the free market” by pursuing innovation-friendly policies.
March 8
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Industry groups are adamant that regulators must make it easier for banks to merge in order to compete with nonbanks, while consumer advocates say bank mergers are too easy and hurt the consumer beyond raising the price of credit.
February 28 -
"In many cases, these are fees where there's not even a service provided or where the bank or financial institution doesn't even do any work,” Rohit Chopra of the Consumer Financial Protection Bureau said Thursday in public remarks.
February 10 -
The March hearing, to be hosted jointly by the Federal Reserve and the Office of the Comptroller of the Currency, is coming at a time when lawmakers and community groups are pressing federal agencies to apply more scrutiny to bank mergers.
February 7 -
Six members of the Senate Banking Committee are asking questions about a flurry of lawsuits against credit card customers. The bank denies that it has resumed using robo-signing.
February 7 -
In an open letter to Sandra L. Thompson, President Biden’s nominee for director of the Federal Housing Finance Agency, two longtime advocates of the Federal Home Loan banks suggest a new path forward.
January 31 -
AB - Policy & RegulationThe Consumer Financial Protection Bureau is in the early stages of developing a rule that could give bank customers far more say in how their information is being accessed by fintechs and data aggregators. What the final rule looks like will depend on how much consumers already know about the way their data is collected, stored and sold.
January 25 -
The Consumer Financial Protection Bureau has opened an inquiry into whether the largest issuers are engaging in unfair or anti-competitive practices. JPMorgan Chase, Citigroup and the rest of the top eight control 70% of the $1 trillion credit card market.
January 20
