Fed Officials Take Aim at Regulations for Small Banks
On September 22nd, a series of addresses by Federal Reserve officials at a community banking conference in Kansas City acknowledged a need for more support of community banks. Kansas City Fed President Esther George, Fed Board Governor Jerome Powell and St. Louis Fed President James Bullard all offered remarks that favored changes in rules and supervision to reduce the regulatory burden on smaller banks. Community bank support.
Federal Financial Institutions Examination Council Announces Availability of 2013 Data on Mortgage Lending
On September 22nd, press releases from the Consumer Finance Protection Bureau (CFPB) and the National Credit Union Administration (NCUA) announced the availability of data on mortgage lending transactions at 7,190
U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). The report is prepared by the Federal Financial Institutions Examination Council (FFIEC). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data made available today covers 2013 lending activity, and includes applications, originations, purchases and sales of loans, denials, and other actions related to applications. CFPB News Release.