With nonbank online “marketplace lending” growing dramatically — originating $12 billion in new loans in 2014, mostly to consumers but also to businesses — the Treasury Department yesterday launched an inquiry into the sector.
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Sen. Cory Booker (D-N.J.) led a group of several Senate Democrats on Friday in asking Consumer Financial Protection Bureau Director Richard Cordray to accelerate a Dodd-Frank Act rulemaking that would require lenders to report small business loan data similar to mortgage loans under the Home Mortgage Disclosure Act.
Noting that many lenders turn to the U.S. Export-Import Bank to add balance sheet capacity and meet their customers’ needs, ABA’s global finance subsidiary BAFT today expressed its disappointment in Congress’ failure to reauthorize the Export-Import Bank before its charter expired last night.
Noting an environment of “high” credit, strategic, compliance and operational risk, the OCC outlined nine priorities for ongoing midsize and community bank supervision in its Semiannual Risk Perspective report released yesterday.
Farm Credit System lenders are not just lending to large, investor-owned utilities – they’re bragging about it.
Comptroller of the Currency Thomas Curry today encouraged bankers to participate in the Treasury Department’s State Small Business Credit Initiative, which has since 2010 distributed more than $1 billion to states for programs that expand access to credit for small businesses.
Credit standards continued to ease in most commercial and consumer loan categories, according to the Federal Reserve’s latest senior loan officer survey released today.
BAFT, the international financial services association that is an ABA subsidiary, today joined the Financial Services Roundtable in urging Congress to reauthorize the U.S. Export-Import Bank before its charter expires at the end of June.
The OCC reported today that the loan growth rate continued to accelerate in the nine-state Southern District, which spans from Texas to Georgia, growing to 8 percent in 2014 from 4 percent in 2013.
The OCC today updated its Comptroller’s Handbook guidance on trade finance and services, consolidating three previous booklets issued in 1994, 1998 and 1999.