News Topic: Policymaking

The Dodd-Frank Act’s $50 billion threshold for determining which banks are systemically important should be scrapped and replaced with an indicator test, according to the Office of Financial Research. ... Read full article

Brian Montgomery appears headed for easy confirmation for another stint as commissioner of the Federal Housing Administration, despite objections by Sen. Elizabeth Warren that he is too close to the financial services industry. ... Read full article

The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, and the fallout could be significant for all sides. ... Read full article

The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability. ... Read full article

Both banks and fintech are satisfied for now with the CFPB's nonbinding principles on data-sharing. But the statement may lay the groundwork for future regulation. ... Read full article

Some housing groups are warming to an idea that they say could help more Americans benefit from housing-related subsidies than the mortgage interest deduction. ... Read full article

The Federal Reserve Board governor sketched out a future in which U.S. banks remain at the center of commercial transactions. ... Read full article

Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday. ... Read full article

The non-binding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles. ... Read full article

President Trump said Tuesday that he has winnowed the number of candidates for the next Fed chair, including potentially reappointing Janet Yellen. ... Read full article

Burgess, chairman of FirstCapital Bank of Texas, succeeds Dorothy Savarese, of Cape Cod Five Cents Savings Bank in Massachusetts, as chairman of the American Bankers Association. ... Read full article

Six Democratic senators want the Treasury Department’s independent watchdog to investigate whether acting Comptroller of the Currency Keith Noreika is still allowed to be in that role. ... Read full article

With issuance of marketplace securitizations now exploding — rising 300% cumulatively in the past two years — the idea of online lending as a niche is quickly deteriorating. ... Read full article

The obvious impact of the Trump administration's moves to undermine the Affordable Care Act will be on consumers in nongroup insurance, but they also carry consequences for all lenders. ... Read full article

As market forces redefine much of the industry, similar to the effects of disruption in the retail sector, regulators should be embracing new banking models. ... Read full article

HUD Secretary Ben Carson said he's held off making any decision on premium cuts until the confirmation of key appointments. "It has been a real ordeal getting people in place," he said. ... Read full article

From chairing a panel charged with replacing Libor to advising the president and Congress on regulatory reform, JPMorgan Chase's chief regulatory affairs officer has emerged as a leading voice on fine-tuning crisis-era rules. ... Read full article

The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule. ... Read full article