News Topic: Law and regulation

Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped. ... Read full article

The Trump administration and acting Consumer Financial Protection Bureau chief Mick Mulvaney won round one in a legal battle challenging Mulvaney's leadership. His critics will have a tall order trying to win round two. ... Read full article

The Consumer Financial Protection Bureau on Tuesday withdrew a plan to conduct a web survey for its debt collection proposal while acting Director Mick Mulvaney reviews the rulemaking. ... Read full article

The Federal Deposit Insurance Corp. approved a $2.09 billion budget for 2018, a 3% reduction from 2017, with cuts to receivership funding and nonpermanent staff. ... Read full article

The U.S. Chamber of Commerce said Monday that an attempt to oust Mick Mulvaney as acting director of the Consumer Financial Protection Bureau would raise "grave questions" about the constitutionality of the consumer agency. ... Read full article

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. ... Read full article

A measure passed by the city council, which still needs final approval, would require banks that want city contracts to disclose whether they set individual or branch-level sales requirements. It comes in response to the Wells Fargo fake account scandal. ... Read full article

The Community Home Lenders Association wants Mick Mulvaney, the acting director of the CFPB, to delay implementation of the Home Mortgage Disclosure Act that goes into effect on Jan. 1. ... Read full article

Past statements by Office of Management and Budget Director Mick Mulvaney about the Consumer Financial Protection Bureau should disqualify him from leading the agency, according to New York Attorney General Eric T. Schneiderman and 16 other state AGs. ... Read full article

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. ... Read full article

The president's vow to come down hard on the San Francisco bank fans a debate about the independence of regulatory agencies such as the CFPB. ... Read full article

The short-term loan industry is suddenly playing offense in Washington following Mick Mulvaney's appointment as acting head of the Consumer Financial Protection Bureau. ... Read full article

The president wrote Friday on Twitter that penalties against the San Francisco bank will be maintained, or possibly strengthened. The comments are likely to fuel a growing controversy about the independence of federal financial regulators. ... Read full article

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators. ... Read full article

The 2018 gubernatorial race will be watched closely both by bankers and consumer advocates to see whether Cordray's leadership of the Consumer Financial Protection Bureau becomes a campaign asset or a liability. ... Read full article

The nomination of Jelena McWilliams to chair the Federal Deposit Insurance Corp. moves the Trump administration one step closer to completing its team of regulatory appointments in its push to undo former President Obama's post-crisis policies. ... Read full article

Rep. Sean Duffy, R-Wis., and Sen. Mike Enzi, R-Wyo., drafted legislation that would set pay for CFPB employees in line with the federal government's pay scale known as the general schedule. ... Read full article

Brian Montgomery seems on his way to being confirmed to lead the Federal Housing Administration. But once he gets there, he may find it difficult to be as innovative as he was during his first stint as commissioner — particularly when it comes to reducing ... Read full article