The pressure will be on regulators to accomplish what the legislative branch could not.
Texas bankers remember the focus put on fair lending examinations during the Obama era.
To pay for the infrastructure bill, Biden is proposing increases in corporate taxes, income taxes and taxes on capital gains.
Regulations are nothing new to financial organizations. In fact, the consensus is whether it’s a traditional bank or a modern fintech startup, they are among the most heavily regulated businesses already — and have been for some time.
Was the 87th Regular Session as different as we thought it would be?
Six months into his administration, Biden has veered toward the hard left and is getting accolades from the same progressives who were skeptical of his leadership.
Conventional wisdom and the pundits predicted that the 87th Regular Session would be a low bill session. With more than 7,001 bills filed to date, the pundits have been proven wrong.
In addition to dealing with the pandemic, President Biden has two other policy goals he campaigned on: the need for greater diversity, equity and inclusion in all aspects of American life and the fight against climate change.
President Biden, federal agencies and Congressional allies will propose a number of challenges to Texas banking.
With Democrats running the executive branch and both houses of Congress, the momentum is with the progressive left. New Yorker Chuck Schumer will be the new Senate Majority Leader and Democrats will chair all committees.
Just when we thought we had survived the worst of the Dodd-Frank Act, the CFPB has released an outline of various proposals to create a HMDA-like regime for small business lending.
Despite logistical concerns and operational challenges, 87th Legislature set to tackle budget, redistricting, criminal justice reform and other priorities
From the perspective of community bankers, gridlock is a good thing. The unknown is how far left the federal banking agencies will go but I anticipate that many actions will be challenged in the courts.
Will Congress do anything to help small businesses? There is currently a standoff on another round of COVID spending. Most likely, it will depend on which party wins the presidency and which party controls the Senate.
Part of the mandate given to the CFPB was Section 1071, which
amended the Equal Credit Opportunity Act to require financial institutions to compile, maintain and submit to the bureau certain data on applications
for credit for women-owned, minor-
For the first time this election
cycle, TBA has adopted a political
plan to amplify not only our political giving, but also our grassroots activity.
While most attention is being paid to potential changes in environmental policies, corporate taxation and immigration law, it is worth considering what may happen on banking issues in the regulatory agencies and on the legislative front.
On June 29, the Supreme Court ruled in the Seila Law decision that the structure of the Consumer Financial Protection Bureau violated the separation of powers doctrine.
For the first time, the Fed was directed to get into the lending business due to the CARES Act mandate and over $450 billion in appropriations to cover any loan losses.
The effect of nonperforming and underperforming loans in community bank portfolios continues to be a concern.
The latest Congressional response to the COVID-19 pandemic is a massive $2.2 trillion appropriation to try to create a backstop for the economy.
The lack of transparency in the CRA process is something that has concerned many bankers.
For Texas bankers, TBA BankPac is the most effective way to support candidates. By pooling our financial resources bankers can amplify our voices and give candidates more meaningful political contributions than we can give individually.
In late January, the NCUA issued a proposed rule to allow credit unions with more than $500 million in assets to issue subordinated debt.