The current regulatory framework could be strengthened to give the Federal Housing Finance Agency and others greater supervisory authority over nonbank mortgage servicers, according to a report released today by the Government Accountability Office.
ABA today applauded the OCC for its white paper outlining principles for how the agency will support innovation in the financial system.
A responsibly regulated fintech industry is essential for ensuring consumer protection and allowing for greater cooperation between banks and alternative financial service providers, ABA President and CEO Rob Nichols said in an op-ed in American Banker today.
Incoming ABA CEO Rob Nichols discussed his plans to fight for regulatory relief, unite banks of all sizes and engage millennials in a recent interview with The Hill.
According to a recent article published in the September issue of the Scotsman Guide, nonbank lenders are growing in popularity, making them more competitive against traditional bank lenders.
Federal Reserve Governor Lael Brainard joined Janet Yellen at the Community Banking Research and Policy Conference with a speech on community bank lending to small businesses and the rise of online nonbank alternatives.
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.
The U.S. Postal Service’s inspector general yesterday released a report offering examples of how USPS could expand its financial services offerings and arguing that these services “could be extremely popular.”