News Topic: Regulatory guidance

In his second straight day of congressional testimony, the central bank’s top regulatory official was put on the defensive about a pending proposal to relieve regional banks from the toughest supervisory requirements. ... Read full article

The move allows the New York multifamily lender to make more loans without having to raise capital. ... Read full article

The Federal Reserve is paying close attention to how it might regulate artificial intelligence and machine learning, Fed Gov. Lael Brainard said in a speech Tuesday. ... Read full article

The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding. ... Read full article

The consumer bureau’s interim chief told an industry conference that “regulation by enforcement is done.” ... Read full article

The House Financial Services Committee has steadily passed regulatory reform legislation this year. But any measure faces a stiffer challenge in the upper chamber. ... Read full article

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations. ... Read full article

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders. ... Read full article

The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers ... Read full article

If the GOP keeps the Senate, the Pennsylvania Republican, who has pressed for bigger changes to the Dodd-Frank Act than recently enacted regulatory relief legislation, could be the next banking chair. Here's what that means. ... Read full article

The agency's bulletin opens the door to banks' making more short-term loans to borrowers with lower credit scores — with few parameters beyond "sound underwriting." ... Read full article

The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem." ... Read full article

Banking and mortgage groups are asking the Federal Communications Commission to issue new Telephone Consumer Protection Act rules that would make consumer lawsuits over robocalls harder to win. ... Read full article

The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau. ... Read full article

The New York Department of Financial Services is encouraging banks to review ties with the firearms industry. ... Read full article

As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority. ... Read full article

Lawmakers should not toss out an agency rule aimed at curbing auto dealer markups that adversely impact borrowers of color. ... Read full article

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders. ... Read full article