Law and regulation

Change in tax rate will cost Capital One $1.9 billion in 4Q

12/26/17

The McLean, Va., company and several other banks have disclosed the charges they expect to record in the fourth quarter due to lower values on their deferred tax assets.

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CFPB halts implementation of prepaid rule to consider changes

12/21/17

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.

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Three things to watch as CFPB leadership case goes to court

12/20/17

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.

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CFPB's Mulvaney scraps survey for debt collection plan

12/19/17

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.

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FDIC budget has fallen by nearly half since 2010

12/19/17

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.

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Chamber backs CFPB's Mulvaney in leadership case

12/18/17

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.

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Can CFPB’s Mulvaney bring politicos to independent agency? Absolutely

12/15/17

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.

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L.A warns banks: Don’t set sales goals if you want city's business

12/14/17

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.

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Mortgage trade group asks CFPB to delay HMDA rule

12/13/17

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.

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Mulvaney unfit to lead CFPB: Schneiderman, 16 state AGs

12/12/17

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.

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