Law and regulation

Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses.

In congressional testimony, the director of the credit union regulator's Office of Minority and Women Inclusion outlined steps the agency is taking to increase diversity at the agency.

A new jobs report was better than expected, but recent NCUA data on credit union performance for the first half of 2020 shows how hard the industry has been hit by COVID-19.

Industry groups are also pushing the federal regulator to improve how off-site examinations are conducted.

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds before the bank's December 2017 collapse.

The former chairman of the National Credit Union Administration served at the agency during a crucial time for regulatory reform and credit union growth, though his tenure also had its share of scandals.

The GOP is unlikely to discuss much policy that affects financial services this week during its national convention, though there could be remarks addressing controversial changes to the U.S. Postal Service.

A federal judge in Florida ruled that lenders are not required to make payments to borrowers' attorneys and accountants unless they struck upfront agreements to do so. The decision has implications for a slew of related lawsuits.

The company has now filed three lawsuits in its bid to recoup nearly $900 million it inadvertently sent to the cosmetic company's creditors.

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.