Nonbank

Lower rates and more nonbank competition will make it harder for banks to keep loans on their books as business borrowers have plenty of opportunities to refinance elsewhere.

California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB.

With fintech firms seemingly stuck in neutral in their efforts to gain banking charters, alternative state licensing options could get another look in 2020.

With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020.

The Rakuten application has piqued interest in reviving legislation aimed at stopping commercial firms from owning banks. Yet Congress previously had the chance to enact such a measure and declined.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

The fintech firm, which had made prior attempts to offer a federally insured consumer account product, said it has “no plans at this time” to become a bank.

The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed steps Monday for banks and debt parties to evade state interest rate caps.

The service will move customers’ uninvested cash from their Robinhood accounts into existing banks, which are already insured through the Federal Deposit Insurance Corp.

All of the GOP members on the House Financial Services Committee called on the regulator to consider "administrative decisions" to offset the impact of the 2015 decision.

By turning to investors outside traditional banking, private-equity firms are finding it easier than ever to get loans to finance their buyouts of corporations that are nowhere close to being profitable.

The largest financial institutions have a golden opportunity to capture more market share because of the under-40 crowd’s decided preference for digital banking, J.D. Power says. Yet so do nonbanks.

With no fintech applicant officially seeking the agency’s specialized charter, Judge Dabney Friedrich said claims by the Conference of State Bank Supervisors still were not ripe.

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more.

The accounting standard is coming regardless of a delay. It will bring some nonbank lenders to the forefront of banking competition.

Resistance to Libra on the Senate Banking Committee was bipartisan, and other takeaways from Tuesday’s hearing.

The U.S. lacks mechanisms authorized in other countries to flag nonbank risks, Eric Rosengren says.

Lawmakers circulated a bill just ahead of hearings on Facebook’s Libra cryptocurrency that would prohibit companies with over $25 billion in annual revenue from launching a digital financial asset.

Facebook’s plan to launch a cryptocurrency has raised concerns that state banking regulators may not be equipped to oversee large, international companies.

Focusing regulatory reforms on risk-based activities is a more effective approach to weeding out potential systemic threats.