Policymaking

Small mortgage lenders seek exemption from CFPB exams

10/02/17

In a recent letter, two trade groups representing that industry lobbied Treasury Secretary Steven Mnuchin to support a bill that would give oversight of nonbank mortgage lenders exclusively to state regulators.

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AIG no longer systemically important, FSOC says

09/29/17

The Financial Stability Oversight Council said Friday that AIG, whose collapse threatened to bring down the U.S. financial system during the financial crisis, should no longer be subject to enhanced standards.

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Equifax’s data flaws are more the rule than the exception

09/28/17

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now.

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'Fintechs tend to march to their own rules': former SEC chair Levitt

09/28/17

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems.

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House passes flood insurance bill, Senate says no thanks

09/28/17

The House passed a bill Thursday making it easier to obtain private flood insurance policies, but moments later the Senate took a pass on the legislation.

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IRS bill could reduce need for Equifax, other credit bureaus

09/28/17

Rep. Patrick McHenry, R-N.C., plans to reintroduce legislation requiring the IRS to fast-track income verification, which proponents say could reduce the financial industry's dependence on credit bureaus.

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Why are regulators so unwilling to remove Wells’ leaders?

09/28/17

As eye-catching as the scandals at Wells Fargo are, the most shocking thing is that federal regulators have taken no meaningful action against the bank’s executives.

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Cheat sheet: What tax reform would mean for lenders

09/27/17

Some in the housing industry expressed concern that the plan would double the standard deduction to $24,000 for married couples and $12,000 for individuals—a move that could dramatically lessen the impact of the mortgage interest write-off.

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Brokered deposits are not the horror portrayed by regulators

09/27/17

How most banks obtain deposits has changed radically over the past 30 years, thanks in part to innovation. It is time for regulators to rethink their notion of what constitutes a quality deposit portfolio.

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Is Trump’s FSOC still a regulator? Maybe it never was

09/25/17

The Trump administration has implemented an apparent role reversal for the Financial Stability Oversight Council, leaving the true intended role of the post-crisis systemic risk body unclear.

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