Browsing: Policy

Newsbytes

The Consumer Financial Protection Bureau this week proposed creating a public registry of terms and conditions in non-negotiable, nonbank contracts that claim to waive a customer’s ability to take certain actions, such as petitioning for bankruptcy or suing the company

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Barring congressional action, it would be inappropriate for the Federal Reserve to use monetary policy or supervisory tools to promote a greener economy or achieve other climate-based goals, Fed Chairman Jerome Powell said this week.

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The American Bankers Association this week reiterated concerns about proposed amendments to Prohibited Transaction Exemption 84-14, known as the Qualified Professional Asset Manager exemption, in a letter to the U.S. Department of Labor.

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The federal banking system remains resilient despite a recent dip in profitability as pandemic-related economic aid phased out, with banks able to use that strength to support their customers and the national economy, the OCC said this week in its annual report to Congress.

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