In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.
The Consumer Financial Protection Bureau has published a new "frequently asked questions" tool to help mortgage lenders with TILA-RESPA integrated disclosures compliance.
When a Columbia University professor surveyed 1,000 payday loan customers, little did he know that the resulting research report would become a lightning rod in the drafting of rules for small-dollar lenders.
The agency is expected soon to propose a revamp of the 2017 regulation that would eliminate the ability-to-repay provisions, which small-dollar lenders saw as a direct threat to their business.
As required by the Dodd-Frank Act, the bureau released long-awaited "look-back" reviews to assess the impact of mortgage underwriting and servicing rules on the industry and the credit markets.
The Dodd-Frank Act gave the central bank authority to set capital requirements for insurance companies that own a federally insured bank, as well as those determined to be systemically important.
Before the financial crisis, federal and state regulators unabashedly pitched their charters to banks as the better choice. That's happening again, despite warnings that such jousting might result in lax oversight.
No matter how far the Massachusetts Democrat goes in the next presidential race, the financial regulatory issues that she trumpets will be front and center.
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.
