Nonbank

The sale of firearms is becoming a flashpoint for millennials. That could put individual banks in the position of having to take a stand on gun control — or risk reputational damage.

Nonbank mortgage firms are seeking formal assurance from the Consumer Financial Protection Bureau that they will not become subject to surprise audits or enforcement without involvement of a state regulator.

Patriot National in Connecticut planned to build a regional small-business lending operation on its own — until it had a chance to buy a national platform.

Treasury Secretary Steven Mnuchin said the Financial Stability Oversight Council will propose SIFI criteria before executing changes, and provided comments about the Volcker Rule, Orderly Liquidation Authority and housing finance.

The Financial Stability Oversight Council should ignore two recent Treasury Department recommendations regarding the labeling of systemically risky nonbanks.

The Community Home Lenders Association sent a letter to the Senate Banking Committee on Wednesday laying out its priorities for GSE reform.

The Trump administration's Financial Stability Oversight Council is likely to remove the systemically important financial institution label for the remaining nonbanks on the list, but it might consider adding other firms such as Fannie Mae and Freddie Mac.

The Dodd-Frank Act included a provision to lock some of the biggest firms into enhanced supervision even if they wanted to exit. But that grasp may not be as strong as it used to be.

The Treasury Department outlined its vision Friday for how and when federal agencies should use their powers to subject nonbanks to enhanced regulatory scrutiny, emphasizing activities over individual firms.

The authority of the Financial Stability Oversight Council to label a firm a “systemically important financial institution” triggers duplicative regulation even if banklike rules are not appropriate to the company.