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The pervasiveness of consumers' credit problems highlights why the Consumer Financial Protection Bureau's upcoming short-term lending rules should avoid unintended consequences.
May 13
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Recent speculation that Comerica is on the block has sparked a conversation about how regulators would vet the sale of a SIFI.
May 12
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Small-scale financial services companies such as storefront lenders and local money transmitters which use technology should have a choice of whether they are regulated by a state or federal regime.
May 12
Mercatus Center at George Mason University -
Can't anybody get along for even five minutes? JPMorgan Chase's Jamie Dimon called community banking leader Cam Fine a "jerk" on cable television. Fine responded by blasting megabanks for their role in the financial crisis.
May 11 -
If alternative small-business lenders don't get engaged in the regulatory dialogue, they risk letting a few bad apples determine their fate.
May 10
Financial Services Innovation Coalition -
State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.
May 9 -
We should all understand now that pure gain-on-sale marketplace lending businesses, like LendingClub, are inherently unstable.
May 9
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The abrupt resignation of the firm's founder and CEO, under a cloud, seems likely to fan investors' growing fears about the marketplace lending sector. It could also hasten regulatory scrutiny.
May 9 -
The Federal Reserve deserves praise for a proposal that would strengthen financial stability by eliminating the rights of counterparties to tear up derivatives contracts in a failure.
May 9
The Clearing House Association -
Banking is often seen as a quintessentially modern institution. But financial practices are deeply rooted in the medieval period.
May 6
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Students with excess cash but no bank account have fallen victim to predatory financial vendors, but the government can take steps to bypass the middleman.
May 5
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Prosper Marketplace's decision to eliminate 22% of its workforce is more evidence that the bloom is off the rose for a sector that had been enjoying astronomical growth.
May 4 -
The hits that alternative lenders like OnDeck Capital are taking shouldn't be a surprise for an industry built on unsustainable business models.
May 4 -
With agencies created by the Dodd-Frank Act embroiled in court battles and continued questions dealing with "too big to fail," can anyone honestly say the reform law is working?
May 4
Whalen Global Advisors LLC -
Just six months out from the general election, presumptive Republican presidential nominee Donald Trumps positions on banking issues remain a complete mystery aside from a general pledge to roll back the Dodd-Frank Act.
May 4 -
Some buyers are hanging in there, but as OnDeck Capital's disappointing first-quarter results show, investors who acquire and securitize marketplace loans are heading for hills. Among the reasons: fear of defaults, unfavorable pricing and shrinking loan yields.
May 3 -
The Federal Reserve voted Tuesday to consider a proposal that would limit counterparties' contractual rights to early payment in the event of a big bank default rights that industry groups have argued reach too far.
May 3 -
OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New York firm sharply reduced its earnings projection for the rest of the year.
May 2 -
During a discussion Monday about the impact of technology on the financial sector, tech executives argued that banks are inefficient because they are paying six-figure salaries to employees whose jobs can be computerized.
May 2
