Politics

Bipartisan support led to the House of Representatives passing the SECURE Act, but the proposal faces strong opposition from those concerned about privacy and security.

AI, ML, predictive analytics and complex algorithms can help lenders expand credit to more consumers, but some critics feel the technology can feed into existing discrimination and bias that applicants face.

The quartet of trade groups sent a letter to National Economic Council Direct Brian Deese seeking its support for an action many have been expecting since Pres. Biden's inauguration.

After 90 years, it is time to examine whether the system is still fulfilling its intended mission to provide liquidity for its members to make mortgages.

In an exclusive interview, the moderate Virginia Democrat and co-chair of the Community Development Financial Institution Caucus touched on the future of community development, cybersecurity and nonbank regulation. 

Republican Sen. Pat Toomey criticized the degree of "opacity" surrounding some community benefit agreements, or written deals between banks and community groups ahead of a merger that often involve billions of dollars of commitments.

The operational melding of highly regulated banks and less-regulated fintechs led acting Comptroller of the Currency Michael Hsu to warn of the potential for another financial crisis.

The move comes amid dwindling advances and a growing concern that the Home Loan banks are participating in riskier investments.

The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance.

The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector. 

Speaking with the consumer regarding the proper amount and type of insurance needed is the best way for lenders and servicers to mitigate the likelihood of default.

A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights. 

The changes, which appear to be separate from a controversial nonbank proposal that's pending, will reduce red tape for credit unions and housing finance agencies and clarify a calculation for loans eligible for repurchase.

Bank trade groups are asking the Consumer Financial Protection Bureau to issue a rule to supervise data aggregators before issuing a separate rule on consumer access to financial data.

Monetary policy has a more significant impact on spending of U.S. households headed by white women than on those led by white men or Black men and women, the Federal Reserve Bank of San Francisco said.

As the Federal Reserve implemented its second 0.75% rate hike in two months, the chair said the system is able to withstand any financial stability risks that rising rates might create. 

American Banker interviewed the Consumer Financial Protection Bureau chief about his views on Big Tech, the qualified mortgage rule, real-time payments apps and more.

In a wide-ranging interview with American Banker, Consumer Financial Protection Bureau Director Rohit Chopra talked about litigating against large firms, fighting overdraft fees and reining in Big Tech.

First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.

Federal Housing Finance Agency Director Sandra L. Thompson told lawmakers on Wednesday that the agency would consider “foundational questions about mission, purpose, and organization” of the Home Loan Bank System.