California lawmaker considers statewide CFPB


Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.


Senate bill would add another step to FSOC designation process


A bipartisan group of senators is proposing legislation to require the Financial Stability Oversight Council to weigh alternatives before putting a large, complex nonbank under Federal Reserve supervision.


Is Dodd-Frank oversight council still relevant?


The interagency panel formed to head off approaching systemic risks must figure out its next move after having undone designations of nonbank firms.


Keep nonbanks out of the Home Loan Bank System


Policymakers should not let mortgage REITs, hedge funds and other firms gain membership through captive insurance companies.


Nonbanks need to get serious about self-regulation


The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.


OCC sees sharp drop in mortgages serviced by large banks


An agency report said servicing portfolios have shrunk by nearly half in 10 years as much of the mortgage market has shifted to nonbanks.


CFPB fines mortgage lender over claims it deceived veterans


The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product.


Nonbanks' rapid growth poses risks to industry: FDIC's McWilliams


FDIC Chairman Jelena McWilliams questioned whether regulators and banks are fully capturing the emerging risks of a new shadow banking system.


'There is likely to be some pain': Citi’s Corbat on nonbank lending


Citigroup CEO Michael Corbat added to the chorus of bankers offering warnings about credit risks that loom outside of the banking industry.


Prudential, the last nonbank SIFI, sheds the label


The Financial Stability Oversight Council announced Wednesday that it was rescinding the SIFI label for Prudential, a culmination of almost a decade of fierce debate about how regulators should address the risk of nonbank financial firms.