Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped.
Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million.
The seven-member council, formed in the wake of the fake-accounts scandal, will advise Wells on social issues, such as diversity, environmental sustainability and the needs of underserved communities.
The Consumer Financial Protection Bureau said Thursday that it plans to reopen its rulemaking for the Home Mortgage Disclosure Act and will not assess penalties against mortgage lenders for any errors in data collected in 2018.
Earlier versions of the bill would have caused bigger changes in how Americans finance home purchases, higher education and retirement. Still, the final legislation will have important effects on borrowing and saving decisions.
Seven trade associations — including those representing banks and credit unions — sent a joint letter to Congress outlining data security standards for entities that handle financial data.
The announcement Thursday that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mel Watt agreed to let Fannie Mae and Freddie Mac each build a $3 billion capital buffer avoided a potential crisis.
