Financial stability vulnerabilities overall are moderate and the financial system itself has remained resilient in the face of the financial impact of the coronavirus crisis, the chair of the Federal Reserve said Wednesday. In remarks […]
Most consumers with savings would pay down some credit card debt, but would also preserve a savings cushion rather than spend all of it retiring the balance, according to the results of an “online experiment” […]
The new chairman of the federal credit union regulator’s board received congratulations Tuesday from the Senate Banking Committee’s incoming chairman, as well as his colleagues on the agency panel itself. Todd M. Harper was designated […]
Spending was up more than 9% by the federal consumer financial protection agency in the last fiscal year, to $558.5 million, according to the agency’s fall 2020 semiannual report issued Jan. 21. The report also […]
Producing a set of recommendations for improving and modernizing federal regulatory review was ordered by the new president Wednesday, with an aim of ensuring “swift federal action,” according to a memorandum issued by the White […]
The new Biden administration instituted a “regulatory freeze” order on Wednesday, requiring that no new rules be proposed or issued until a Biden-appointed official has reviewed or approved the rule. The order also requires that […]
Noting that she was doing so at the request of the new Biden administration, Consumer Financial Protection Bureau (CFPB) Director Kathleen (“Kathy”) Kraninger resigned Wednesday shortly after 12:45 p.m. ET. She had served about 25 […]
An exemption from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs) for smaller banks and credit unions was issued as a final rule Tuesday by the federal consumer financial protection agency. […]
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