Lending

Lawmakers have a short window of time in which they can use the Congressional Review Act to nullify the Consumer Financial Protection Bureau's misguided rule striking medical debt from credit reports.

The top five bank holding companies have combined business loan portfolios of more than $2.6 trillion as of Dec. 31.

In a surprise move, the Consumer Financial Protection Bureau said that it will not enforce or supervise lenders for the final payday lending rule. The bureau also plans to  narrow the scope of the rule.

After eight years of delay, the Consumer Financial Protection Bureau could still make last-minute changes to the payday rule, which sweeps in the buy now/pay later industry.

The Trump administration's plans for student loans could open the door for banks to grab market share as borrowers seek alternatives.

The law would have expanded the state's 12% interest rate cap in a manner that would have effectively banned fintech lending in the state.

In a speech, the Federal Reserve governor called for policies that would impose Truth In Lending-like disclosure requirements on lenders' products that cater to small businesses.

The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.

The top five bank holding companies have combined total consumer loan portfolios of more than $1.95 trillion.