The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of ... Read full article
The Consumer Financial Protection Bureau said Friday that Anthony Alexis, the agency's enforcement chief, plans to leave the agency after more than five and a half years. ... Read full article
Wells Fargo took a surprise $1 billion charge in the quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits. ... Read full article
The GOP inquiry appears aimed at providing more ammunition for potentially ousting Director Richard Cordray, but the report's impact may be limited. ... Read full article
Unlike a visiting sports team, foreign banks can't just blame local referees they perceive as biased for penalties or fines. ... Read full article
A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy. ... Read full article
The Upstart Network's CEO, Dave Girouard, explains how the online lender worked with a normally aggressive federal regulator to balance the needs for innovation and consumer protection. ... Read full article
The Consumer Financial Protection Bureau may face an unsteady political environment, but a new report on CFPB supervisory priorities has experts warning banks not to rest on their laurels. ... Read full article
A new documentary airing on PBS Tuesday raises questions about why prosecutors targeted a small bank after the financial crisis and left bigger institutions untouched. ... Read full article
Senate Banking Committee Chairman Sen. Mike Crapo, R-Idaho, said he is considering holding another hearing on Wells Fargo following the bank's recent missteps. ... Read full article
Husband and wife claim they were fired for raising concerns about the bank’s sales practices; commercial mortgage-backed securities on pace to top last year’s volume. ... Read full article
A Federal Reserve proposal acknowledges that good board governance results from directors being credible overseers of strategy instead of a redundant form of management. ... Read full article
Wells Fargo CEO Tim Sloan has told employees that a third-party review of unauthorized accounts will be published “within a few weeks.” ... Read full article
Contrary to the view of some, technology has not rendered the Community Reinvestment Act obsolete. But everyone seems to agree that it should be reformed. ... Read full article
Special counsel Robert Mueller is said to be drawing on ongoing investigations, including one by federal prosecutors into whether former Trump campaign manager Paul Manafort laundered money from eastern Europe into New York properties. ... Read full article
Regulators and consumer activists are examining the relationships among banks, insurance companies and auto-loan borrowers following the new revelations about Wells Fargo and insurers' rising premium income. ... Read full article
The bank’s “reasonably possible” legal charges could surpass its reserves by $3.3 billion as of June 30, a Wells securities filing says. ... Read full article
Wells Fargo & Co. settled an 11-year-old lawsuit with the U.S. government that claimed the lender overcharged veterans under a federal mortgage-refinancing program. ... Read full article
Wells Fargo & Co. customers accused the bank in a lawsuit of forcing them to pay for unnecessary auto insurance that drove some of them so far into a financial spiral that their vehicles were repossessed. ... Read full article
The Buffalo, N.Y., bank has been freed from an enforcement order that required an upgrade of its anti-money-laundering compliance systems. The Fed had ordered the upgrade as a condition for approval of its acquisition of Hudson City Bancorp. ... Read full article
