BankNews.com

Company Name

Government News

Time to Repeal the Durbin Amendment Is Now: New Survey Underscores Policy’s Failures

May 23 – New Morning Consult survey data just released confirms the need to end the Durbin amendment, with seven in 10 voters unaware of having received a discount at the register since the policy went into effect. Across party lines, voters agree that if merchants aren’t passing along savings from the law, it should be repealed. To date, big box stores have pocketed $42 billion at their customers’ expense. The new polling data found nearly 70 percent of voters say these big box retailers like Target and Walmart are looking out for their own bottom lines, not main street interests.

(more…)

FDIC Releases Handbook for Organizers of De Novos

May 17 —  A final handbook to assist parties interested in establishing new banks was released by the FDIC. As part of the regulator’s ongoing commitment to work with organizers, the handbook – Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions – was designed to provide a plain language overview of the requirements and considerations significant to the application process, and to provide organizers a clear and transparent explanation of the path to obtaining deposit insurance.

(more…)

Freddie Mac Proposes Plan to Increase Home Ownership in Underserved Areas

May 15 – Freddie Mac is attempting to remedy underserved housing markets with its Duty to Serve plan, which details proposals for addressing some of the country’s most persistent affordable housing problems. (more…)

CFPB Turns Focus to Small Business Lending; Banking Trade Groups Object

May 16 – The Consumer Financial Protection Bureau is looking into ways to gather and use new and existing information to identify the financing needs of small businesses, especially those owned by women and minorities. (more…)

ICBA White Paper to Treasury Offers Roadmap for Economic Growth

May 12 – The Independent Community Bankers of America (ICBA) has delivered to the Treasury Department a comprehensive white paper to bolster economic and job growth through tiered and proportionate community banking regulations. “Community Bank Regulatory Relief: A Roadmap to Economic Growth and Prosperity” outlines ICBA’s plan to modernize regulations on community banks so they can continue fostering economic recovery in communities of all sizes across the country.

(more…)

Retailers Say Repeal of Swipe Fee Reform Would ‘Undermine Transparency and Competition’ and Harm Consumers

May 8 – The National Retail Federation has called on the House Financial Services Committee to reject efforts to repeal debit card swipe fee reform as it considers approval of the Financial Choice Act.

(more…)

CFPB Sues Four Online Lenders

April 28 – The Consumer Financial Protection Bureau has filed suit against four online lenders that it claims improperly collected on debts. (more…)

KC Fed President Backs Plans to Trim Security Holdings

By Bill Poquette, Editor-in-Chief

April 21 – Federal Reserve officials are signaling they want to start unwinding the central bank’s $4.5 trillion balance sheet. This is making some market watchers nervous about the effect on monetary policy and the economy, but consensus on the issue is elusive, with forecasts ranging from little or no effect to major disruption. (more…)

Economy Expansion Continues in All 12 Districts

April 20 – The pace of expansion in the U.S. economy was equally split between “modest” and “moderate” in reports from the Federal Reserve’s 12 district banks for the April Beige Book. Economic activity increased in each of the districts between mid-February and the end of March and the pickup was evident to varying degrees across economic sectors.

(more…)

Tight Inventory Squeezing Housing Market

April 18 – Freddie Mac released its monthly Outlook for April, which was headlined “Where Have all the Houses Gone?” The report focused on how the tight housing inventory will affect home sales during the spring homebuying season. (more…)

Software: Kryptronic eCommerce, Copyright 1999-2017 Kryptronic, Inc. Exec Time: 0.059229 Seconds Memory Usage: 3.782501 Megabytes
Kryptronic Internet Software Solutions