CFPB invites comments on amending rules already in effect

03/14/18

The request for feedback on adopted regulations is the eighth out of a dozen such requests that acting CFPB Director Mick Mulvaney has initiated so far as part of a public review of all the agency's processes.

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Wells Fargo's Sloan received a 35% pay bump in 2017

03/14/18

CEO Tim Sloan was paid $17.4 million, though he was denied a cash bonus, as the San Francisco bank continued to contend with scandal fallout.

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5 questions as reg relief moves closer to becoming law

03/14/18

With the Senate finishing its work on a regulatory relief package, a showdown in the House still looms while critics of Dodd-Frank weigh whether this is their last shot at unwinding it.

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Judge signals skepticism of credit union expansion

03/14/18

The National Credit Union Administration’s defense of changes to a field-of-membership rule was challenged by a federal judge on Wednesday, suggesting an American Bankers Association lawsuit against the revisions may be successful.

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Megabanks gird for battle over deposit pricing

03/14/18

With rate hikes aplenty expected this year, Wells Fargo and Bank of America are said to be subdividing key markets to target deposit pricing in the future and minimize costs. These are among several innovative steps large banks are taking to prepare for more competition for deposits.

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TD Bank to take auto-dealer financing business nationwide

03/14/18

As it expands to the West Coast, the bank will first target car dealers at which it is already an indirect consumer lender.

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Charter creep concerns resurface in Freddie's new risk-sharing pilot

03/14/18

Freddie Mac and Arch Capital are testing a new form of risk-sharing deal to boost investor appetite for low down payment mortgages. But the pilot is raising concerns about "charter creep" because it dictates private mortgage insurance decisions typically made by lenders.

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Will women ever get a shot to lead Goldman? Ask its next top man

03/14/18

Goldman Sachs needs to do a better job elevating women to its top ranks, new heir apparent David Solomon said recently. He has his work cut out for him.

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Ginnie Mae venture with Chicago FHLB crosses mortgage milestone

03/14/18

A mortgage program created by a 2015 partnership between the Federal Home Loan Bank of Chicago and Ginnie Mae has securitized over $1 billion in government-backed mortgages, the partnership announced.

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Housing market needs an explicit government guarantee

03/14/18

A clear government backstop for the mortgage market would benefit small banks and investors by ensuring a stable and liquid secondary market for securities.

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