Decision on fintech charter coming this summer: OCC’s Otting
The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry.
By
Joe Adler
Regulatory relief
Congress seals deal on Dodd-Frank reforms
The bill passed by the House took a more cautious approach to relief than prior legislative proposals but has still been hailed by banking industry groups.
Chase Bank getting bullish on FHA loans, mortgage CEO says
JPMorgan Chase has largely sat on the sidelines of Federal Housing Administration lending due to compliance concerns. But recent regulatory relief efforts have Chase Home Mortgage CEO Mike Weinbach eyeing an opportunity to jump back in.
Repeal of CFPB rule could still leave car lenders on the hook
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.
Consumer groups oppose Senate repeal of CFPB auto lending rules
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.
House passes bill giving Fed authority over Volcker Rule
The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.
It ‘would stab a knife’ into CFPB: Critics react to Mulvaney proposal
The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.
CFPB’s Mulvaney looks to rein in ‘tyranny’ of agency he runs
Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress.
A CFPB commission will never fly
Critics of the Consumer Financial Protection Bureau have long sought to convert its leadership structure from a single director to a five-member commission. Here’s why the idea is dead on arrival.
Spike in construction lending one likely outcome of reg relief
First the House and now the Senate have included provisions in their regulatory relief bills that bankers say would go a long way toward clearing up confusion over how to treat high-volatility commercial real estate loans.
By
Andy Peters
Senate reg relief bill opens new front in credit-scoring battle
A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.
Barney Frank downplays Democratic attacks on reg relief bill
Former Rep. Barney Frank rejected concerns voiced by other Democrats that a Senate bill rolling back some provisions of the Dodd-Frank Act will fuel another financial crisis.
As Senate nears big vote, Dodd-Frank shows its staying power
The Senate is poised to pass the most substantial bank regulatory relief since the crisis, but any disruption of the post-crisis regime is still eclipsed by how much the bill enshrines Dodd-Frank.
AGs, not CFPB, should take greater role on enforcement: Mulvaney
“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.”
New CRA proposal scheduled for release in March: OCC’s Otting
Comptroller of the Currency Joseph Otting said reform of Community Reinvestment Act regulations is a "key element" of how regulators aim to recalibrate rules a decade after the financial crisis.
How the House can still shape reg relief talks
As a bipartisan regulatory relief bill approaches the finish line in the Senate, the House has mostly stood on the sidelines. But no one expects the lower chamber to just rubber-stamp the deal.
Mulvaney could use Dodd-Frank to gut CFPB mortgage rules
The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.
Reactions to Mulvaney memo range from elation to disgust
Many in the industry applauded the Consumer Financial Protection Bureau's new mission statement shifting the agency's focus away from using enforcement actions as a substitute for rules of the road.
Regulators raise threshold for syndicated loans
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.
Cheat sheet: Inside Crapo’s reg relief deal with Democrats
The regulatory relief bill would raise the SIFI threshold to $250 billion of assets and allow mortgages held in portfolio to be counted as "qualified," among other items, but it is far less sweeping than institutions had hoped.
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