Publication

Consumer Bankers endorses U.S. Bank’s Simple Loan product

The Consumer Bankers Association (CBA) has endorsed U.S. Bank’s new Simple Loan product, which provides a more cost-effective option for short-term loans for consumers.

CRA reform, fintech threat shift bank lobbying effort toward regulators

During a recent interview, incoming CBA Board Chair, Todd Barnhart of PNC Bank, discussed our legislative and regulatory priorities for the upcoming year. CBA will shift its lobbying efforts to focus primarily on federal regulators rather than lawmakers.

OCC Seeks Input On Lending Regs For Underserved Areas

The Office of the Comptroller of the Currency kicked off a process Tuesday that could lead to an overhaul of regulations around bank lending in underserved areas.

U.S. Bank Regulator Moves to Modify Lending Rules for Poorer Communities

A national banking regulator took the first step Tuesday toward rewriting rules for lending in lower-income neighborhoods, an effort that could allow institutions to redirect billions of dollars spent on loans and investments.

OCC goes it alone on first step toward CRA overhaul

On August 28, The Office of the Comptroller of the Currency issued more than 30 questions Tuesday asking the public how it can revamp a 40-year-old law that grades banks on their lending to low-and-moderate income communities.

“Banks have a continuing responsibility to meet the credit needs of their communities, but in recent years banking has seen major changes,” said Richard Hunt, president and CEO of the Consumer Bankers Association, in a statement. 

Booker wants to bar banks from charging ‘unfair’ overdraft fees

Booker wants to bar banks from charging ‘unfair’ overdraft fees

By Joe Hernandez

August 6, 2018

 

In a move to end an “unfair” practice he said traps consumers in a “vicious cycle of poverty,” U.S. Sen. Cory Booker of New Jersey has introduced a bill that would prohibit banks from charging customers certain overdraft fees.

Compass Point: Top Takeaways from SCOTUS Nomination

On July 9, President Trump announced that U.S. Circuit Court of Appeals for the District of Columbia Judge Brett Kavanaugh would be his nominee to replace Justice Anthony Kennedy on the Supreme Court of the United States (SCOTUS). Ultimately, we expect Judge Kavanaugh to win confirmation and consequently cement a reliably conservative majority on the SCOTUS. We include below four brief observations at this stage of the process.

 

A government student-loan website may soon treat private loan companies more favorably

The private student loan industry may soon get more favorable treatment on the government’s financial-aid website.

Right now, the Department of Education’s Office of Federal Student Aid website presents private student loans as an option students should only consider after loans offered by the government. But the site could soon take a less-biased approach towards private loans, according to reports of a speech given by Wayne Johnson, the head of FSA’s strategy and information office at a lending conference on May 9.

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