Big Banks Easily Pass Federal Stress Tests
← Previous Article Next Article → The nation’s largest and most complex banks easily passed the Federal Reserve’s annual stress tests, despite undergoing a scenario that simulated the most severe economic downturn yet tested.The simulation projected $410...
States Agree to Regulatory Cooperation
← Previous Article Next Article → Earlier today, the Conference of State Bank Supervisors (CSBS), announced that 23 states have agreed to accept other states’ reviews of companies’ licensing process for money transmitters and other money services businesses... Federal Regulators Provide (Some) Regulatory Relief for Small Banks
← Previous Article Next Article → The three federal bank regulators – the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve (the Fed), and the Office of the Comptroller of the Currency (OCC) – issued a final rule that will...
New Study: Fintech Reduces Discrimination in Lending
← Previous Article Next Article → Although discrimination in lending remains a problem in America today, discrimination is declining, largely as a result of fintech firms’ use of algorithms. According to the latest research, fintech algorithms discriminate...
Facebook Announces New Currency
← Previous Article Next Article → On June 18, Facebook announced an ambitious plan to develop an alternative financial system using a global currency, backed by blockchain technology, called “Libra.” The frequently criticized social media giant expects to...
Kraninger’s First Six Months at the CFPB
← Previous Article Next Article → Kathy Kraninger, director of the Consumer Financial Protection Bureau (CFPB), has now led the CFPB for six months. According to a press release detailing Kranigner’s actions thus far, she has focused on enforcing the law,...
Controversy and Criticism Surrounds California Bill to Cap Interest Rates
← Previous Article Next Article → The California Assembly, led by Assemblypersons Monique Limon and Tim Grayson, passed AB-539 on May 23, a state bill that would cap interest rates at 36 percent on loans more than $2,500. Controversy and criticism have...
APR Caps Often Have Unintended Side-Effects
← Previous Article Next Article → Earlier last year, economists from the World Bank published a report entitled, “Interest Rate Caps: The Theory and the Practice.” It finds that capping interest rates not only reduces average lending rates, but often has...
