Trump asks GOP senators for show of hands on Fed nominee choices

Sen. Tim Scott said Trump asked specifically about Stanford University economist John Taylor and Federal Reserve Governor Jerome Powell. He also mentioned the current Fed chair, Janet Yellen.
Source: American Banker

ICBA to create online directory of fintech firms

The directory, which will debut next year, should help community banks find potential fintech partners.
Source: American Banker

Home equity beckons, but few ready to embrace it

Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.
Source: American Banker

How hemp legalization could bolster marijuana banking bill

Banks hoping to make working with the cannabis industry easier saw a positive sign this week when Congress removed the prohibition on a less potent substance.
Source: American Banker

Equifax executives cleared by board over post-breach sales

Four executives who sold stock after the company discovered a security breach had no knowledge of the incident when they made the trades, the company said. However, the status of federal investigations is unclear.
Source: American Banker

Is Trump a systemic risk?

There is no banking crisis, but the president’s actions are threatening to create one.
Source: American Banker

LendingClub's pullback amplifies consumer debt-load worries

The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.
Source: American Banker

Elizabeth Warren takes major step toward presidential run

The Massachusetts progressive said in a New Year’s Eve email and video message to supporters that she’s launching an exploratory committee for a 2020 bid, which could give her an early edge in fundraising among several potential rivals for the Democratic Party nomination.
Source: American Banker

CFPB requests information on free access to credit scores

The Consumer Financial Protection Bureau is seeking more information about consumers’ experience with free access to credit scores.
Source: American Banker

Banks have need for speed in small-business lending

Invesments in software can speed up decision-making and help traditional lenders better compete with fintechs for creditworthy customers who want their loans quickly.
Source: American Banker