A formal removal of the “arbitration rule” from the list of federal rules and regulations has been filed by the Consumer Financial Protection Bureau (CFPB), closing the book on the regulation. “Under the Congressional Review […]
Definitions of “home mortgage loan” and “consumer loan,” as well as the public file content requirements under the Community Reinvestment Act (CRA) have been revised by the federal banking agencies to conform to changes made […]
New technology making it feasible for financial institutions to enable consumers to exert “much greater control” over their credit cards, debit cards, and other payment methods should be considered for speedy adoption by financial institutions […]
Software errors that led to auto lenders sending incorrect information about more than 1 million borrowers to credit reporting agencies has resulted in a $1.1 million fine and a demand for a plan from the […]
Sustaining the progress that the economy has achieved since the financial crisis will require continued monitoring of newly emerging threats to financial and economic stability, and decisive responses, Federal Reserve Board Chairman Janet L. Yellen […]
While community banks have good reason to be optimistic about future opportunity (especially with the prospects of “regulatory relief” at both the regulatory and legislative levels), there are a number of risks that should be […]
Comment periods on proposals for enhancing the effectiveness of boards of directors, and installing a new ratings system for large financial institutions, have been extended by the Federal Reserve Board to Feb. 15. The comment […]
A budget of $321 million for 2018 – up less than 1% from the previous year – was approved by the National Credit Union Administration (NCUA) Board Thursday, reflecting what the agency calls “significant steps […]
Risks to financial stability by nonbank financial companies should be evaluated through a process that starts with reviewing the activities and products of individual organizations, the Treasury recommends to President Donald Trump. In a report […]
Reports are circulating in Washington that Office of Management and Budget (OMB) Director Mick Mulvaney will be tapped by the White House to lead the Consumer Financial Protection Bureau (CFPB) on an interim basis. Mulvaney […]
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