Financial stress

Requiring banks to test themselves is likely to be a waste of time in the current crisis, says a former Senate Banking counsel.

Sandler and his wife, Marion, built a small California thrift into a powerhouse before selling it to Wachovia prior to the housing collapse, but were heavily criticized for engaging in some of the same practices that caused the financial crisis.

New president suggests less regulation and meets with bank leaders; state and city check for illegal lending activity.

Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

The total includes donations to community groups helping low-income people, support for the development of financial coaching programs and investment in the creation and testing of fintech tools that can help underserved people.

These programs are becoming a more common employee benefit but many lack some of the tools users need to be successful.

Flourish, a fund backed by Pierre and Pam Omidyar, invests in startups that address social and financial inequities yet (key caveat) are still promising moneymakers, a top official of the fund explains.

The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.

The director of the Consumer Financial Protection Bureau has asked Congress to clarify its ability to conduct exams that ensure compliance with the Military Lending Act.

Its data-driven financial management services for workers who live paycheck to paycheck — and a contract with Walmart — have attracted executives from Facebook, Slack and elsewhere as well as a major investment from the head of Box.