Readers react to the Senate overriding the Consumer Financial Protection Bureau's auto lending guidance, weigh in on House efforts to reform the Dodd-Frank Act and debate technology being used to replace new branches.
The rules to comply with the Community Reinvestment Act have become "formulaic and ossified" and must be changed to encourage lending practices the law originally intended to foster, the Fed's top regulator said.
Sen. Elizabeth Warren, D-Mass., introduced a bill to create a permanent law enforcement unit to investigate criminal activity at large banks, just as the Senate was close to passing a regulatory relief package.
Though the Senate regulatory relief bill falls well short of a far-reaching House bill, critics argue it could still increase the chance of another bank bailout by the government and weaken consumer protections. Here are the measures causing the most debate.
The merger of the Financial Services Roundtable and The Clearing House Association is likely to bring a more analytical approach to the combined group’s dealings with lawmakers, emphasizing detailed research over simplified talking points.
The Treasury Department struck a middle ground in recommendations for Dodd-Frank Act wind-down powers, resisting calls to repeal those powers but still addressing concerns that they are too generous to large firms.