News Topic: Policymaking

Johnathan Dever, a Republican Ohio state representative and defense lawyer, is being touted as a top candidate to lead the bureau, according to multiple insiders. ... Read full article

Comptroller of the Currency Joseph Otting blasted a letter from Senate Democrats criticizing his agency for not implementing recommendations on supervision in the wake of the Wells Fargo scandal. ... Read full article

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency. ... Read full article

The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act. ... Read full article

Acting CFPB director Mick Mulvaney issued "a call for evidence" Wednesday seeking comment on all of the consumer agency's functions, including enforcement, supervision, rulemaking, market monitoring and education activities. ... Read full article

Of the more than 30 GOP lawmakers due to retire at yearend - a historically significant level of departures for a single election - several are important to banking policy. ... Read full article

GOP Rep. Ed Royce of California said this week that he will leave Congress at the end of the year, removing his name from the list of contenders to lead the Financial Services Committee next year. ... Read full article

J. Mark McWatters of the National Credit Union Administration will have no favorites among community financial institutions. ... Read full article

Criticism of payday lenders is deserved and Congress should not throw out the CFPB's short-term lending measure. ... Read full article

Pimco's Richard Clarida is said to be out of the running for the nomination. Other names linked to the position have been former Fed Gov. Lawrence Lindsey and Mohamed El-Erian, chief economic adviser at Allianz SE, Pimco’s parent company. ... Read full article

Consumer Financial Protection Bureau complaints dropped last year for most of the big banks, including Wells Fargo, though they rose sharply at Capital One. ... Read full article

Kirsten Sutton Mork, the House Financial Services Committee's staff director, will become chief of staff at the Consumer Financial Protection Bureau. ... Read full article

The banking industry braced for big changes with the election of President Trump, but the financial reform law has proven its staying power over the past year. ... Read full article

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate. ... Read full article

The Consumer Financial Protection Bureau dominated three of the top most read stories of last year, while Ripple upstart seized two. Other highlights included our annual Women in Banking package, the aftermath of the Equifax data breach and news of ... Read full article

The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee. ... Read full article

Three additional banks announced bonuses, wage hikes and charitable contributions resulting from the lower corporate tax rate enacted by Congress. ... Read full article

Finding a perfect candidate could be tricky. Because the New York Fed oversees banks and operates in markets, someone with Wall Street experience is ideal — yet at the same time, it’s important to find a candidate who isn’t beholden to the banks. ... Read full article