House bill seeks to limit punitive effect of CFPB guidance process
The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau.
The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau.
As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.
Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.
Responding to a request to reinstate an LSTA lawsuit that would modify risk retention, the agency argued that the trade group's arguments "both fail.”