Banks’ imperfect options for killing CFPB arbitration rule
The industry and GOP lawmakers face short time frames and other challenges in trying to repeal the Consumer Financial Protection Bureau's arbitration rule. ... Read full article
The industry and GOP lawmakers face short time frames and other challenges in trying to repeal the Consumer Financial Protection Bureau's arbitration rule. ... Read full article
Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states. ... Read full article
It's not only regulation that is hurting profitability, but also banks' failure to adapt to the internet age, according to a recent study. ... Read full article
With the ink barely dry on the Consumer Financial Protection Bureau's final arbitration rule, defenders and critics of the rule were already girding for a congressional fight over its ultimate fate. ... Read full article
Tucked away in the Treasury Department’s regulatory reform report released last month was a nascent effort to reform the way regulators implement the Community Reinvestment Act. ... Read full article
The Office of the Comptroller of the Currency told a somewhat familiar story Friday about the industry's risk environment. ... Read full article
Supporters maintain hope that the Federal Housing Administration will revive a proposed premium cut, but a key obstacle remains: There's no one to run the agency. ... Read full article
National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources. ... Read full article
Federal Reserve Board Gov. Jerome Powell stopped short of endorsing any single housing finance reform plan, but called on lawmakers to resolve what he described as the biggest unfinished business of the crisis. ... Read full article
Executives at four former credit repair companies agree to pay $2 million for charging consumers millions in illegal advance fees. ... Read full article
Mexico's decision to reduce imports of soybean meal, corn and chicken has put more pressure on certain farmers, while creating another situation for lenders to monitor. ... Read full article
Financial firms say the database is unreliable and would like to see it removed from public view. But the industry would also lose access to competitive insights that can be gleaned from the massive trove of consumer complaints. ... Read full article
The NCUA is letting federal credit unions securitize and sell assets. Such transactions would free up capital at credit unions, allowing them to make more loans. ... Read full article
The company will also gain its first branches in New Mexico after it buys Peoples Inc. ... Read full article
Federal regulators supported several changes the banking industry has been seeking in an appearance before the Senate Banking Committee on Thursday, acknowledging the need to limit the Volcker Rule and better define systemically important banks. ... Read full article
The billionaire investor agreed to buy shares at a deep discount and provide a fresh credit line for the Canadian mortgage company, tapping a formula he used to prop up lenders from Goldman Sachs to Bank of America. ... Read full article
Housing finance reform discussions are heating up and there's a growing sense that legislation can be enacted sooner rather than later. Here's why. ... Read full article
For Democrats, the scandal is a prominent symbol of big-bank misbehavior, while Republicans want to use it to show the shortcomings of the CFPB. ... Read full article
While HUD has released money this year, the Trump administration has called for defunding the program as part of its proposed budget. ... Read full article
CFPB Director Richard Cordray took issue with a House Republican report that said he lied about his agency's role in investigating the Wells Fargo phony-accounts scandal. ... Read full article