In a letter to President Trump, 44 Democratic senators said the White House's appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau "jeopardizes the agency’s independence and effectiveness."
Mick Mulvaney, the agency's acting director, said he believes the small-dollar lending rule is too far along to roll back through regulation but hopes Congress will repeal it.
Reform of the Community Reinvestment Act should seek to establish a minimum standard for the volume of CRA activities a bank must complete in its assessment area.
The most immediate threat to the safeguards underpinning a well-functioning banking sector involves the failure of regulators to hold banks accountable.
The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland.
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.
The resignation of CFPB Director Richard Cordray gives President Trump the chance to name a director who could roll back agency rules and supervisory policies.
