As the effort to develop a faster payments system continues apace, the Consumer Financial Protection Bureau today added its perspective about how consumer protections might best be integrated into new payments mechanisms.
Under the Dodd-Frank Act’s systemic risk regulatory regime, some of the largest institutions may decide it is in their best interests to shrink, Federal Reserve Governor Lael Brainard said at an industry event today.
The chairman and CEO of the smallest bank holding company to be designated as a systemically important financial institution yesterday outlined to the House Financial Services Committee the burdens this level of regulation has imposed — burdens he finds out of proportion to the benefits they provide.
Building on its partnership with the state bankers associations, ABA is urging bankers to ask their representatives to co-sponsor the TAILOR Act, H.R. 2896, which would direct financial regulators to tailor regulatory actions based on the sizes, business models, risk profiles and other differentiating characteristics of the institutions they supervise.
Delinquencies in closed-end loans and bank cards edged down in the first quarter, driven by large declines in home loan-related delinquencies, according to the ABA Consumer Credit Delinquency Bulletin that was released today.
The federal banking agencies yesterday released their 2015 list of distressed or underserved middle-income non-metropolitan areas where banks can receive Community Reinvestment Act credit for revitalization activities.
Consumer credit increased at a seasonally adjusted annual rate (SAAR) of 5.7 percent in May to $3.40 trillion.
Testifying before the Senate Judiciary Committee today, ABA SVP Doug Johnson called on Congress to act swiftly to enhance the penalties faced by cyber criminals.
The size of a down payment is much more significant than the interest rate in determining how much more someone is willing to pay for a house, according to researchers at the Federal Reserve Bank of New York.