Examiners focus too much on how many suspicious activity reports banks file and too little on the true riskiness of their activities, according to lawmakers and industry representatives.
Sen. Elizabeth Warren, D-Mass., is asking acting CFPB Director Mick Mulvaney to account for recent directives limiting agency staff members’ ability to access or acquire electronic data, saying the moves hamper critical agency operations.
Over the past year, the focus of several banking policymakers has been how much the regulatory pendulum might swing back toward the industry’s liking. That theme will likely continue in 2018.
When the acting director of the Consumer Financial Protection Bureau announced plans to bring aboard political appointees, many viewed it as antithetical to an independent regulator. But technically there is nothing stopping him.
Despite concerns from Democrats about the bank regulatory views of Federal Reserve Board officials who will lead the central bank going forward, the current Fed chair said she is not worried.
Over 30 current and former Democratic lawmakers filed a new amicus brief Monday supporting Consumer Financial Protection Bureau Deputy Director Leandra English to be reinstated as acting director of the agency.
A bipartisan Senate alliance working on a bank regulatory relief bill appeared even stronger Tuesday as it worked to minimize changes in the interest of moving the legislative package to the Senate floor.
Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.
The ill will between Democrats and Republicans in the controversy over appointing an acting Consumer Financial Protection Bureau chief adds a new wrinkle to bipartisan efforts to pass regulatory relief.
Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.
