CFPB to reconsider payday loan rule
The Consumer Financial Protection Bureau has postponed the implementation for its payday loan rule --which was set to take effect Jan. 16 -- as it reconsiders the rule. Payday loans, also called sm...
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Report examines disaster mitigation costs
A recently released report determined the price tag for disaster mitigation in America in 2017 exceeded $300 billion and highlighted the importance of mitigation investment. The National Institute ...
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Nevada Gov. Sandoval talks innovation at State of the States address
At the 2018 State of the States address, chair of the National Governors Association, Nevada Gov. Brian Sandoval, discussed innovations in transportation and energy across America’s state capitols. ...
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Federal Home Loan Bank of San Francisco invests in small businesses
The Federal Home Loan Bank of San Francisco’s (FHLBank San Francisco) Quality Jobs Fund invested $5 million into the Central Valley Fund, an investment firm that helps small- and medium-sized busine...
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Majority of banks, credit unions offer mobile banking services, survey finds
According to a new survey from the Federal Reserve, 89 percent of banks and credit unions already offer mobile banking services to their customers. The report, the 2016 Mobile Financial Services Su...
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Bank card default rate rising, according to credit default indices
The S&P/Experian Consumer Credit Default Indices revealed the bank card default rate rose 16 basis points to 3.44 percent through December 2017. Officials said the indices represent a comprehen...
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Robert Jackson, Hester Peirce sworn in as SEC commissioners
Robert Jackson and Hester Peirce were sworn as commissioners at the Securities and Exchange Commission last week following their confirmation by the U.S. Senate on Dec. 21. “I look forward to wo...
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HUD awards record $2 billion to help homeless people across the US
The U.S. Department of Housing and Urban Development (HUD) awarded $2 billion in grants to help homeless people in the country. HUD's Continuum of Care grants go to organizations that support more ...
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Rep. Hill introduces legislation to enhance federal coordination related to Volcker Rule
U.S. Rep. French Hill (R-AR) recently introduced a bill to enhance coordination among the federal banking regulatory agencies as it relates to the Volcker Rule. The Volcker Rule, named after former...
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Mortgage applications for new home purchases drops in December
Mortgage applications for new home purchases decreased about 18 percent in December compared to the previous month, according to the Mortgage Bankers Association (MBA) Builder Applications Survey (BAS...
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Sens. Warren, Cornyn sponsor bill requiring corporations to file for bankruptcy in local districts
U.S. Sens. Elizabeth Warren (D-MA) and John Cornyn (R-TX) recently introduced legislation that would require individuals and corporations to file for bankruptcy in the district where they are located....
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House hearing examines proposals to reform the Federal Reserve
The House Subcommittee on Monetary Policy and Trade held a hearing last week to examine a number of legislative proposals to reform the Federal Reserve. “Almost a decade after the Great Recession...
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Lawmakers support online gaming industry protections
A group of lawmakers are urging the government to uphold guidance permitting online gambling save for sports betting. Sens. Bob Menendez (D-NJ) and Cory Booker (D-NJ) joined Reps. Frank LoBiondo (...
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Consumer credit rises in November buoyed by credit cards
Bolstered by strong growth in revolving credit, which is primarily from credit cards, total consumer credit rose 8.8 percent in November, marking the biggest monthly jump since September 2015. Revo...
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Richard Best
SEC taps Richard Best to lead Atlanta office
The Securities and Exchange Commission (SEC) named Richard Best as regional director of its Atlanta office, succeeding Walter Jospin, who is leaving the agency at the end of January. Most recently,...
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Democratic senators want more information on prepaid cards for student aid
A group of Democratic senators want more details on how a proposed pilot program by the U.S. Department of Education’s Office of Federal Student Aid (FSA) to disburse student financial aid through a...
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Small business confidence sets record level
The National Federation of Independent Business (NFIB) said 2017 represented a banner year for small business confidence. The NFIB’s Index of Small Business Optimism showed 2017 served as the str...
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Loan delinquencies for personal, auto loans rise in third quarter
Delinquencies for closed-end loans, such as personal and auto loans, rose in the third quarter, according to the latest American Bankers Association (ABA) Consumer Credit Delinquency Bulletin. The ...
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Community bankers urge lawmakers to pass legislation promoting regulatory relief
At a House subcommittee hearing this week, the Independent Community Bankers of America (ICBA) testified on the need to pass legislation that promotes tiered regulations for community banks. “Com...
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House subcommittee holds hearing to discuss foreign investment challenges
The House Monetary Policy and Trade Subcommittee met this week to evaluate the Committee on Foreign Investment in the United States (CFIUS) and the security challenges of changing global economy. S...
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