The FDIC today announced steps to provide regulatory relief to financial institutions and facilitate recovery in areas of Kentucky affected by severe storms, tornadoes, flooding and mudslides. The agency is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather. It also will consider regulatory relief from certain filing and publishing requirements.
President Trump has signed into law an ABA-championed resolution overturning the CFPB’s limits on overdraft fees.
The CFPB announced it is rescinding dozens of guidance documents on topics such as fair lending, overdraft fees, disclosure policies and consumer information requests to large banks and credit unions.
ABA and other plaintiffs said the court has already recognized that an Illinois law restricting certain interchange fees is preempted by federal law, so it should reject the state’s arguments against the court making a summary judgment in...
President Trump nominated former FDIC Board Member Jonathan McKernan as undersecretary of domestic finance at the Treasury Department. McKernan had been the nominee to lead the CFPB.
Acting Comptroller Rodney Hood outlined his top priorities for the OCC, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.
The Dow Jones Transportation Average, which measures shipping, rail and logistics companies, is exhibiting one of its worst H1 performances in 10 years.
