As technology evolves, state-level stalwarts such as elder financial abuse and foreclosure are now sharing the legislative spotlight with novel issues generated from the success of Airbnb, Uber and other “sharing economy” firms.
A large majority of banks provide small dollar loans effectively (with low charge-offs) and have the capacity to expand their small dollar lending, were market and regulatory conditions to allow for it, according to an ABA survey of senior bank officers.
Citing the economic outlook, bankers are showing signs of tightening credit for business loans while they continued to ease credit standards slightly in their home mortgage and consumer loan portfolios, according to the Federal Reserve’s latest senior loan officer survey released today.
Recent trends, from the drop in oil prices to changes in the auto loan market, underscore the importance of risk management fundamentals.
General Motors’ $750 discount for credit union members buying a new Chevrolet, Buick or GMC car should be extended to bank customers as well, incoming ABA president and CEO Rob Nichols said in a letter to GM CEO Mary Barra today.
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 Consumer Financial Protection Bureau released its third annual report on fair lending.
In a speech today on next steps in financial regulation, Sen. Elizabeth Warren (D-Mass.) said that the Consumer Financial Protection Bureau should assume oversight of auto dealers, which were left out of the Dodd-Frank Act.