The prospect of a lower corporate rate resulting from looming tax reform discussions may be a blessing for the industry, but it could be bittersweet for one particular group of bankers.
The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers.
The Federal Housing Finance Agency has added three categories to the list of protected classes under equal opportunity employment and inclusion rules for regulated entities.
Tucked away in the Treasury Department’s regulatory reform report released last month was a nascent effort to reform the way regulators implement the Community Reinvestment Act.
Affordable housing shortages and declining loan volumes are making it difficult for banks to originate enough mortgages to meet their Community Reinvestment Act obligations, which could make filling shortfalls with loans from nonbanks more expensive.
The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.
Freddie Mac has priced its first credit-risk transfer securities backed in part by tax-exempt loans used to finance affordable multifamily rental properties.
