Policymaking

Time to clean house at Wells Fargo

11/20/18

The megabank’s continued compliance problems suggest that all of its board members, along with 100 of its most senior managers, should be replaced to make way for real change.

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CFPB’s ‘disclosure sandbox’ puts consumers at risk

11/19/18

The initiative would allow financial firms to test new — and potentially less transparent — disclosure forms on customers.

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CFPB’s remittance rule exception needs a reboot

11/15/18

A 10-year exemption for banks offering estimated fees and exchange rates under the rule, instead of exact amounts, is set to expire in 2020. Lawmakers should consider a temporary extension.

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FDIC’s rate caps threaten efforts to serve the underbanked

11/14/18

The agency’s flawed methodology for determining interest rate caps on certain accounts poses risks for banks offering free, low-deposit checking and the financial system more broadly.

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Big banks should be worried as Brown joins presidential fray

11/12/18

Sen. Sherrod Brown, a longtime industry critic, said Monday that he’s weighing a possible 2020 bid.

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Banks need to stop relying on Social Security numbers

11/12/18

SSNs are used to verify identity across the financial services industry, but use of the numbers is outdated and leaves consumers vulnerable to data breaches.

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What bankers want from CRA reform

11/08/18

The head of the Consumer Bankers Association lays out four industry priorities for the regulatory push to overhaul the Community Reinvestment Act.

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'A toothless police dog in action': Comments of the week

11/02/18

Readers respond to an FTC settlement with SoFi, weigh calls to simplify Wells Fargo, consider crypto's revolving door and more.

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Congressional Black Caucus members urge Fed action on faster payments

10/30/18

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

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Dear regulators: Don’t take CRA’s revamp too far

10/30/18

While there are ways to improve the Community Reinvestment Act for the modern era, steps must be taken to ensure the law is not weakened in the process.

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