CFPB fires back at OCC's criticism of arbitration rule

10/13/17

The Office of the Comptroller of the Currency used "flawed statistics" and misstated the effects of the Consumer Financial Protection Bureau's arbitration rule on community banks, Director Richard Cordray said Friday.

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Regulators shutter bank in Kansas

10/13/17

Farmers and Merchants State Bank of Argonia, Kan., was the seventh institution to fail this year.

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SoFi withdraws bank application in wake of scandal

10/13/17

Student loan platform Social Finance has withdrawn its application for deposit insurance, a month after former CEO Mike Cagney retired in the wake of sexual harassment allegations.

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B of A beefs up rep and warrant reserves ahead of mortgage settlement

10/13/17

Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

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Quarles sworn in as Fed’s head of supervision

10/13/17

Randal Quarlies becomes the first of President Trump's nominees to be confirmed to the Fed board and the first person to become vice chair of supervision at the central bank.

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Wells rules out raising deposit rates to jump-start consumer growth

10/13/17

The embattled company has begun offering cash bonuses to certain customers who open accounts, but at least for now pricey deposit rates would not ensure that customers stick around, executives said Friday.

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CFPB's enforcement chief to leave

10/13/17

The Consumer Financial Protection Bureau said Friday that Anthony Alexis, the agency's enforcement chief, plans to leave the agency after more than five and a half years.

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Signs of hope in C&I lending?

10/13/17

Third-quarter results from PNC, Bank of America, First Horizon and others suggest that demand for commercial loans may not be as weak as bankers and investors had feared. Or maybe some banks are just getting really good at poaching rivals’ customers.

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OCC's Noreika urges Senate to vacate CFPB arbitration rule

10/13/17

In an op-ed, acting Comptroller of the Currency Keith Noreika argued that allowing consumers to sue financial institutions in class actions would raise credit costs and harm small banks.

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German central banker questions U.S. rollbacks on capital, liquidity rules

10/13/17

Andreas Dombret, head of regulation at Germany’s central bank, fears entering “the next stage of … an eternal cycle” of crises as countries begin dialing back regulations.

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