Pranks at CFPB, tax cuts' impact and bitcoin: Top stories of the week

12/08/17

For the second week in a row, the CFPB's leadership shakeout dominated readers' attention, while a regional banker discussed efforts to fight hacking and the impact of the tax cuts, and bitcoin's price soared.

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Consumer advocates file brief opposing CFPB’s Mulvaney

12/08/17

Advocacy groups filed an amicus brief supporting Leandra English’s suit to head the Consumer Financial Protection Bureau, arguing that President Trump's interim pick of Mick Mulvaney was illegal.

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Federal Reserve taps Boston Fed COO to head payments task force

12/08/17

In the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system

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Payday lenders see new opportunity at revamped CFPB

12/08/17

The short-term loan industry is suddenly playing offense in Washington following Mick Mulvaney's appointment as acting head of the Consumer Financial Protection Bureau.

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Trump wades into Wells Fargo saga, promising tough penalties

12/08/17

The president wrote Friday on Twitter that penalties against the San Francisco bank will be maintained, or possibly strengthened. The comments are likely to fuel a growing controversy about the independence of federal financial regulators.

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‘Richard Nixon might disagree’: Comments of the week

12/08/17

Readers react to the change in tone at the Consumer Financial Protection Bureau, the launch of voice-command banking on Amazon’s Alexa, how regulation affects financial innovation and more.

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Fannie and Freddie: Should they stay or should they go?

12/08/17

Until recently, there was a consensus among policymakers that Fannie Mae and Freddie Mac needed to be eliminated. That changed this week. Here's why.

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Has tech earned our trust, or are we just complacent?

12/08/17

We entrust tech firms with vast amounts of information about our daily lives, with an expectation that they will safeguard it. But have we become too casual in the trust we place with them in exchange for more personalized experience and convenience?

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Quarles calls for transparency; Bitcoin boils over — again

12/08/17

Fed's supervision chief wants more openness on bank stress tests; cybercurrency jumps 40% in 40 hours, climbing past $19,000.

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Tax hits, deposit wars, paydown blues: A 4Q preview

12/07/17

It’s only early December, but bank CEOs’ comments this week about tax reform, their thirst for deposits, consumer lending initiatives, and challenges in commercial lending offer a sneak peek at what’s coming when earnings season begins next month.

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