Enforcement

Is CFPB’s Mulvaney waging war on the agency he runs?

01/18/18

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.

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Is CFPB’s data freeze about security or a political ploy?

01/10/18

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.

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Warren grills CFPB head over data collection freeze

01/08/18

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.

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Citibank fined $70M for failing to fix BSA deficiencies

01/04/18

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.

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PHH Mortgage to pay $45M to settle robosigning allegations by 49 states

01/03/18

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.

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Citi unit mixed up 'buy' and 'sell' ratings for years

12/28/17

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.

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Will Trump regulators trade lighter rulemaking for tougher enforcement?

12/27/17

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?

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Fed’s Quarles recuses himself from Wells-related actions

12/15/17

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.”

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RBS CEO sees diminishing chance of DOJ settlement this year

12/08/17

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.

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New OCC head scraps plan to move big bank examiners off-site

12/06/17

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.

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