SBA raises cumulative loan cap for first time since 2010
While the move is seen in a positive light, lenders and Trump administration officials are still angling to raise the loan-size limit within the agency's flagship 7(a) program.
Regulatory actions and programs
Regulators extend comment period on Basel III endgame proposal
Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.
Consumer advocates allege bias in CFPB task force
A lawsuit filed Tuesday argues that the bureau's establishment of the panel looking into regulatory changes violated the Federal Advisory Committee Act.
Sens. Warren, Brown call on CFPB to suspend task force
In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that did so.
CFPB names longtime agency critic to chair consumer task force
Todd Zywicki, a law professor who has sharply criticized the CFPB as an unaccountable bureaucracy, has been named chair of an agency task force identifying potential conflicts and inconsistencies in consumer finance law.
CFPB political appointee named agency’s No. 2
Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger.
