In This Issue:
- Lawmakers Urge Fed to Clarify Emergency Lending Rules
- CFPB Pushing Colleges to Be More Transparent in Bank Deals
- Report Finds Reversal in Trend Toward Subprime Auto Loans
- CFPB Concerned Over Risks from Virtual Currencies
- Banks Pressured to Crack Down on Casino Money-Laundering
- Small Businesses Find Alternative Lending Comes with Catch
- Suit Over Cyber-Heist Raises Question of Banks' Responsibility
- Excerpt from Lawmakers Urge Fed to Clarify Emergency Lending Rules:
The Federal Reserve must clarify its emergency lending authority rules to foreclose the possibility of "backdoor bailouts" in a future financial crisis, a bipartisan group of lawmakers said in a letter. The central bank's proposed rules for emergency lending place "no meaningful restrictions" on its lending powers in a time of crisis, inviting the prospect of assistance similar to that provided five years ago, 15 Senate and House members wrote in the letter to Federal Reserve Chair Janet Yellen.
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