Upheaval at the CFPB

08/02/18

The nomination of Kathy Kraninger as CFPB director has sparked fights in Congress. Meanwhile, the agency has taken several notable enforcement actions. American Banker reporter Kate Berry explains what these developments mean for the CFPB’s future.

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Wells Fargo's $2B settlement may mark end of crisis-era RMBS woes

08/01/18

The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.

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Panel vote on CFPB nominee delayed as Senate plans recess

08/01/18

The Senate recess is postponing the committee's vote comes as Democrats press Kathy Kraninger on involvement with zero-tolerance immigration policy at OMB.

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ICBA calls for a new FDIC moratorium on industrial loan charter applications

08/01/18

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

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With OCC’s door officially open, will fintechs enter?

08/01/18

Fintech firms have the federal option they have long sought, but meeting the agency’s application requirements will not be easy.

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Wells Fargo to pay $2.09B to settle U.S. mortgage probe

08/01/18

Ten years after faulty mortgages upended the global financial system, Wells Fargo agreed to pay $2.09 billion to settle a U.S. probe into its creation and sale of loans that contributed to the disaster.

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Bankers gird for fight over credit union trust application

08/01/18

Seven credit unions have asked Michigan's banking regulator for permission to launch a trust company, a move that bankers says oversteps that industry's role of helping people of "modest means."

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Cheat Sheet: How the Fed will revamp regional bank regulation

08/01/18

The Federal Reserve’s forthcoming rules for banks with assets of $100 billion-$250 billion hinge on their perceived risk to the financial system.

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Men behaving badly edition (UBS, Goldman Sachs, FHFA and more)

08/01/18

Catch up on a deluge of sexual harassment disclosures from banks and regulators. Brace yourself — it gets ugly, with rape and strangulation among the lowlights. Then marvel at how one fintech CEO who fell early in the #MeToo era engineered a fast comeback. Plus valuable insight on anger.

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Freddie's 'boring' 2Q earnings a sign of stability: CEO

08/01/18

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

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