CFPB looking to hop on fintech sandbox bandwagon
Mick Mulvaney, the agency’s acting director, suggests U.S. startups — like their U.K. counterparts — may eventually be able to test products without fear of regulatory action. ... Read full article
Mick Mulvaney, the agency’s acting director, suggests U.S. startups — like their U.K. counterparts — may eventually be able to test products without fear of regulatory action. ... Read full article
Comprehensive analysis of the banking industry's first big legislative victory since the crisis; lawsuits target banks with websites in violation of the Americans with Disabilities Act; what a homegrown app for millennials has to teach Wells Fargo; ... Read full article
Lenders would have a lighter data-reporting burden, but they may end up deciding to collect the data anyway. ... Read full article
New European Union privacy rules could serve as a guide for U.S. banks. ... Read full article
The CFPB is looking to rescind Obama-era policy that allowed it to punish banks and financial firms for unintentional discrimination. ... Read full article
The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem." ... Read full article
Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers. ... Read full article
Bank of America on where its AI hopes (and worries) lay; Zelle founder Paul Finch announces his leave from the payments network; the one area where banks and fintechs want more regulation; and more from this week's most-read stories. ... Read full article
Readers react to Wells Fargo’s CEO slamming the media, weigh in on regulatory relief, opine on gambling and payments and more. ... Read full article
Mick Mulvaney’s recent comments about the CFPB Qualified Mortgage rule have triggered a debate over whether regulators should take into account more than one underwriting model. ... Read full article
It's too late for Congress to overturn the consumer bureau's regulation on short-term lending, but acting Director Mick Mulvaney will have plenty of chances to reshape it. ... Read full article
Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing. ... Read full article
Acting CFPB Director Mick Mulvaney suggested that digital mortgages should be held to different standards than ones originated by credit unions and banks. ... Read full article
A recent Washington Post investigation revealed that J. Mark McWatters runs the National Credit Union Administration from his home in Dallas, raising questions about his being tapped to head the consumer agency. ... Read full article
Artificial intelligence will reshape the job landscape at banks; people still want to open accounts at a branch; Mick Mulvaney stacks CFPB bench with political appointees; and more from this week's most-read stories. ... Read full article
As more consumer data is shared across banks, fintechs and data aggregators, the industry is asking for regulators to step in with better guidance. ... Read full article
The union representing employees at the CFPB is already fighting acting Director Mick Mulvaney's efforts to restructure the agency, and readying for a potentially larger conflict as rumors of layoffs swirl. ... Read full article
From falling originations to market share shifts for nonbanks and government loans, here's a look at key findings from the just-released 2017 Home Mortgage Disclosure Act data. ... Read full article
The CFPB's acting director announced new political hires and more plans to overhaul the agency in an email Wednesday. ... Read full article
The former CFPB director won the state’s Democratic primary Tuesday night, and his tenure at the agency is likely to be a key issue in the general election. ... Read full article