Regulatory relief

Trump vs. Biden: What’s at stake for banks


The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.


Fincen plans major overhaul of anti-money-laundering rules


The Financial Crimes Enforcement Network is seeking to create a better-defined standard for effective AML compliance programs and is considering whether to impose formal requirements that banks assess their laundering risk.


CFPB data collection rule could exempt smallest small-business lenders


The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook.


CFPB gets tough with debt collectors as it readies rule


The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance.


CFPB’s latest underwriting revamp seen as boon to fintechs, GSEs


The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.


CFPB seeks comment on impact of credit card rules


The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.


Labor Dept. plan to replace fiduciary rule catches flak from all sides


Banks and other financial firms say the proposal to reverse restrictions on investment advisers does not go far enough. Meanwhile, investor advocates say it would loosen necessary protections.


OCC finalizes assessment fee reduction due to pandemic


The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change.


CFPB’s Kraninger faces Democratic firing squad over payday rule


Members of the Senate Banking Committee took the agency’s leader to task for eliminating underwriting requirements for small-dollar lenders, which lawmakers said has left consumers more vulnerable during the pandemic.


FDIC finalizes rule to ease bank restrictions on hiring ex-cons


The regulation allows banks to add employees with past convictions for trivial crimes after the industry complained the prior rules were too severe.