Barr welcomes regulatory rethink but Fed needs to supervise
The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system.
Regulation and compliance
Report: Fed can protect the Treasury market by shorting it
In a paper, former central bank researchers make the case that the Federal Reserve could better support the Treasury market from disruptions in the cash-futures basis trade by hedging its asset purchases.
U.S. fiscal strength seen weakening further, Moody’s says
A rise in U.S. Treasury yields from very low levels in 2020, has resulted in diminished debt affordability, with interest payments-to-revenue hitting about 30% by 2035.
CFPB rehires most fired employees as court battle continues
The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.
FDIC grappling with attrition, unresolved workplace issues
The issues are hindering the Federal Deposit Insurance Corp.'s ability to meet its regulatory duties, according to the agency's Office of Inspector General.
Judge pauses firings at CFPB, FDIC, Treasury
A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs.
New York AG unveils new consumer protection bill
New York Attorney General Letitia James announced new state legislation to ban unfair and abusive business practices, giving state regulators broader authority to crack down on consumer abuses.
GOP lawmakers seek to repeal CFPB medical debt rule
Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.
GOP lawmakers urge Trump to pick regulatory chair at Fed
Thirty members of the Senate Banking and House Financial Services committees signed a letter petitioning the administration to name a new vice chair for supervision — and quickly.
Bill Pulte hints at cost-cutting, rule-slashing at FHFA
The grandson of the PulteGroup founder did not elaborate on plans for a much-anticipated government-sponsored enterprise exit from conservatorship.
CFPB dismisses Rocket, Vanderbilt Mortgage lawsuits
Housing finance players accused of wronging consumers slammed the lawsuits as politically motivated efforts by former Biden-era bureau director Rohit Chopra.
Lender groups want SBA to increase fees, tighten underwriting rules
Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.
Justice Dept. insists ‘there will continue to be a CFPB’
The Justice Department said in a legal brief that the Consumer Financial Protection Bureau will continue to exist, but said instead that the agency will have fewer employees and a reduced budget under the Trump administration.
FDIC withdraws support for Colo. interest rate exportation law
The FDIC withdrew its amicus brief supporting Colorado's opt-out law on interest rate exportation, highlighting the agency's more fintech-friendly regulatory approach under acting Chair Travis Hill.
NY Attorney General joins coalition against CFPB shutdown
Letitia James and 22 other attorneys general have filed an amicus brief in a Maryland case challenging the dissolution of the consumer protection agency.
Warren, Schiff demand DOGE be removed from CFPB
While Sen. Elizabeth Warren, D-Mass., is continuing to try and save the agency she helped create, Sen. Adam Schiff, D-Calif., who benefited from crypto spending in his primary race, is a new ally.
Fed’s Bowman calls for review of Dodd-Frank reforms
Federal Reserve Gov. Michelle Bowman — who is viewed as a leading contender to be the next vice chair for supervision at the central bank — said changes to the post-financial crisis framework should be a focal point of the Fed's regulatory policy review.
Trump former DOJ lawyer Jeffrey Clark joins the CFPB
The Trump administration has installed Jeffrey Clark at the Consumer Financial Protection Bureau. Clark, a former environmental lawyer in the Justice Department in the first Trump administration, was indicted as part of the president's efforts to overturn the 2020 election.
Home equity investment firms unite amid regulation shift
The consortium of businesses intends to work with state regulators to protect consumers as interest from secondary market investors also grows.
FDIC’s McKernan gets nod to lead CFPB; Gould picked for OCC
The White House has tapped former Federal Deposit Insurance Corp. Director Jonathan McKernan to lead the Consumer Financial Protection Bureau and attorney Jonathan Gould to lead the Office of the Comptroller of the Currency late Tuesday.
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