As Republicans policymakers pursue efforts to revamp the Consumer Financial Protection Bureau and replace its leadership, state agencies are already preparing to fill any vacuum that might ensue if the CFPB steps back.
A profile of New York's superintendent of banking offers insight into her thinking on hot regulatory issues; the women behind the machine learning at Morgan Stanley and UBS see a future with better advice; plus, Jane Austen and the new Doctor Who.
While some policymakers are open to accommodating fintech companies with looser oversight compared to banks, the New York State superintendent is unapologetic about her tough approach.
Auditors performing a review of Ocwen Financial padded timesheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.
State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.
Compliance flexibility, state law harmonization and funding transparency requirements are among the regulatory steps that can encourage continued innovation.
An industry-backed bill that is headed to the desk of Gov. Mary Fallin is seen by critics as an effort to minimize the impact of a potential CFPB crackdown.
