If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest.
The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point.
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.
The OCC said Thursday that the bank has yet to fully meet the conditions of a 2012 consent order requiring it to address problems in its Bank Secrecy Act and anti-money-laundering compliance programs.
PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012.
It will pay $11.5 million to resolve Finra claims that a brokerage unit displayed inaccurate research ratings for hundreds of securities for nearly five years.
Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?
The Federal Reserve Board announced that Vice Chairman of Supervision Randal Quarles will recuse himself from matters related to Wells Fargo “to avoid even the potential appearance of a conflict of interest.”
Royal Bank of Scotland Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a U.S. mortgage-bond probe before the end of the year as he'd hoped, though it's well-capitalized to handle a settlement.
The Office of the Comptroller of the Currency is eliminating a plan designed to ensure its examiners did not get too close to the big banks they supervise.
