Acting Consumer Financial Protection Bureau Director Mick Mulvaney is discarding many of the policies of his predecessor but none as important perhaps as the agency's targeting of "unfair, deceptive or abusive acts or practices."
Nonbank mortgage firms are seeking formal assurance from the Consumer Financial Protection Bureau that they will not become subject to surprise audits or enforcement without involvement of a state regulator.
The Trump administration’s 2019 budget highlights the administration’s goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.
Treasury Secretary Steven Mnuchin said the Financial Stability Oversight Council will propose SIFI criteria before executing changes, and provided comments about the Volcker Rule, Orderly Liquidation Authority and housing finance.
Her career at the Federal Reserve is one of stunning accomplishments, but time will tell how her tenure ultimately is remembered on bank regulation and stewardship of the economy.
The Fed released its stress testing scenarios for banks this year, raising the bar on what constitutes severely adverse hypothetical market conditions.
The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.
Mick Mulvaney, acting director of the CFPB, sent strong signals in a memo to all bureau staff last week that he wants to crack down on debt-collection firms.
Mick Mulvaney and Richard Cordray set themselves apart from the run-of-the-mill Beltway bashing of late when their war of words over the CFPB went positively bookish.
