The Senate today employed a little-used legislative procedure to reverse the Consumer Financial Protection Bureau’s 2013 guidance on indirect auto lending.
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The Consumer Financial Protection Bureau’s Consumer Advisory Board will hold two subcommittee calls in the coming weeks, both of which are open to the public.
Outstanding household debt increased by 1.5 percent in the fourth quarter of 2017, rising by $193 billion to land at $13.15 trillion, the Federal Reserve Bank of New York said today.
Many banks anticipate that they will ease credit standards and terms for large and middle-market firms in 2018, but they expect to cool things down in the robust commercial real estate market, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
In a comment letter to the Department of Defense today, ABA called on the Pentagon to repeal a section of the amendments to its Military Lending Act interpretive rule relating to service members’ ability to finance the purchase of Guaranteed Acceptance Protection insurance with a loan used to purchase the vehicle.
Delinquencies in many types of closed-end loans and home equity lines of credit rose in the third quarter of 2017, while bank card delinquencies fell, according to the ABA Consumer Credit Delinquency Bulletin released today.
The Government Accountability Office today issued a statement that the Consumer Financial Protection Bureau’s 2013 guidance on fair lending risks in indirect auto lending constitutes a “rule” for purposes of the Congressional Review Act.
More bankers began easing credit standards and terms amid weakening demand for a wide swath of commercial and real estate loan products in the third quarter, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
Although auto lending volume has declined in 2016 and 2017, car loans with longer maturities continue to expand market share, according to a study released today by the Consumer Financial Protection Bureau.
During his confirmation hearing today, Randal Quarles — President Trump’s nominee to serve as Federal Reserve vice chairman for supervision — endorsed the concept of tailored supervision that ABA has done much to work into the policy conversation over the past several years.