The Community Home Lenders of America has proposed a “uniform annual exam” system for nonbanks that would focus on data that is routinely required by states.
AFSA asks CFPB to withdraw guidance on powerbooking; White House issues executive order on artificial intelligence; CFPB takes action against Citi for discriminating against Armenian Americans.
Consumer Financial Protection Bureau Director Rohit Chopra recently advocated for a Community Reinvestment Act-like regime for nonbanks at the state level. Trade groups reiterated their opposition to such a move.
The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations.
A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.
With the CFPB's open banking proposal, consumers would be able to connect checking, credit card, digital wallet and prepaid accounts to third-party institutions in order to access different products and services.