The CFPB's proposed update to debt collection rules needs clarifications.
Media Highlights - Week of August 20
Aug 23, 2018
News impacting state supervisors this week:
- U.S. banks set another quarterly record for revenue in Q2 2018, reaching $60.2 billion. That represents a 25.1 percent, or $12.1 billion, increase from the same quarter last year, including a 21.1 percent gain in net income for community banks. Only 3.8 percent of banks were unprofitable, compared to 4.3 percent a year ago, the FDIC said. The American Banker has six takeaways from the report.
- The Federal Agencies issued an interim final rule allowing banks with fewer than $3 billion in assets to qualify for an 18-month examination cycle.
- The Senate Banking Committee approved Kathy Kraninger to lead the CFPB, Elad Roisman to be a member of the SEC, Michael Bright to lead Ginnie Mae, and Kimberly Reed to the lead the Export-Import Bank. All votes will now proceed to the full Senate for consideration.