Though 18 U.S. states have taken measures aimed at eliminating predatory lending practices, 32 states still allow payday and deposit-advance interest rates with high interest rates or no rate cap at all. Arizona, Arkansas, Colorado, Connecticut, Georgia, Maine, Maryland, Massachusetts, … Read More…
The FDIC issued proposed guidance on Thursday for supervised institutions that offer or plan to offer deposit advance products in order to ensure that banks are aware of the risks, compliance and safety associated with deposit advance loans. “The proposed … Read More…
U.S. Treasury Secretary Jack Lew praised the work of financial regulators during a Financial Stability Oversight Council hearing, saying that while the nation’s financial system is stronger since the crisis, much work remains. Lew pointed to efforts by the financial … Read More…
A recent Rasmussen survey revealed that while 87 percent of Americans support FDIC deposit insurance, 34 percent maintain that the insurance is too high at $250,000 and 22 percent say the insurance should be higher. Before the financial crisis in … Read More…
As the FDIC seeks to recover funds paid out to failed banks during the 2008 financial crisis, insurance premiums for thousands of U.S. banks have increased. The FDIC’s efforts have netted the regulator millions of dollars resulting from legal settlements, … Read More…
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