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 Across party lines, voters agree that if merchants aren’t passing along savings from the law, it should be repealed.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.
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.
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…)
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…)
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.
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.
April 28 – The Consumer Financial Protection Bureau has filed suit against four online lenders that it claims improperly collected on debts. (more…)
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…)
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.