The Consumer Financial Protection Bureau yesterday finalized a rule allowing it to supervise nonbank auto finance companies, giving the bureau more comprehensive oversight over the auto lending market. The rule would cover nonbanks making, acquiring or refinancing more than 10,000 auto loans per year, capturing an estimated 34 companies that originate approximately 90 percent of all nonbank auto loans and serve 6.8 million borrowers in a year.
Bankers: Local lending at risk if stablecoin payment of interest loophole isn’t closed
Warning of the potential fallout for banks and the communities they serve, bank leaders from across the U.S. are urging Senate leaders to use the Clarity Act to close a loophole that allows digital asset service providers to...








