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Credit scores have an effect on almost every aspect of a person's financial life. A less-than-ideal credit score can make it much harder to get a house or car loan, start a business, or even get a job. President Biden plans to change credit reporting So what does the new administration’s plan mean for consumers and lenders? In this episode, we explore the pros and cons of the Biden proposal, what it means for consumers, and how it will impact lending institutions’ strategy and operations.
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Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.
March 9
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Federal Judge Kenneth Marra for a second time has granted the mortgage company summary judgment in the case brought by the bureau in 2017.
March 5
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Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.
March 2
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Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.
February 26
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The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.
February 23
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The organization postponed the issuance of its next set of revisions, which would have gone into effect at the start of 2022.
February 22
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The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.
February 21
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With historic barriers of systemic discrimination, predatory lending and wealth inequities to overcome, change will take time, but leaders from National Association of Real Estate Brokers and other groups propose lenders take these steps now.
February 19
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The operating environment is dramatically different than it was pre-pandemic and presents all-new challenges for financial institutions. Tried-and-true strategies that led to high performance for many years are no longer going to be successful. Join Bonnie McGeer, Executive Editor of American Banker, and Claude Hanley, Partner at Capital Performance Group, as they highlight important trends and comb through data from top-performing banks across the country for insights that will help regional and community financial institutions thrive in 2021. Executives will learn what metrics will be most critical to focus on to maintain high performance going forward.
