The ABA has issued a fair lending white paper to Treasury entitled: Fair Lending: Fighting Illegal Discrimination: Promoting Growth for the Whole Community. The paper raises issues with regard to agency regulation and enforcement efforts generally but, more specifically, focuses on the CFPB. It addresses enforcement of redlining, application of disparate impact, and advocates that […]
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Recent FDIC reports have highlighted the stability and growing profitability among the nation’s financial institutions. In examining (2) key measures of asset quality (net charge-off rates as a percent of loans) and profitability (ROA), the data suggests both measures have stabilized for commercial banks since the financial crisis.
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FDIC Chairman Gruenberg:“Revenue and net income were higher, loan balances grew, asset quality improved, and the number of unprofitable banks and ‘problem banks’ continued to fall,” Gruenberg said. “Community banks also reported solid results for the quarter and year with strong net income, revenue, and loan growth.
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The Center for Microeconomic Data’s latest Quarterly Report on Household Debt and Credit shows that total outstanding credit card debt was $747 billion at the end of September.
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