Items Tagged with 'Financial CHOICE Act'

ARTICLES

Ocwen accuses CFPB of playing politics with lawsuit, vows to defend itself

Claims suit is "politically motivated attempt by the CFPB to grab headlines"
Ocwen Financial took the gloves off in responding to the Consumer Financial Protection Bureau’s allegations that the nonbank “failed borrowers at every stage of the mortgage servicing process,” arguing that the CFPB’s lawsuit is politically motivated and vowing to defend itself against claims that are “inaccurate” and “unfounded.”
Read More

Get ready: Congress fires up Dodd-Frank, CFPB overhaul

Committee hearing date set for Financial CHOICE Act 2.0
The Dodd-Frank doomsday clock just ticked a little closer to midnight. The Republican-crafted plan to overhaul the country’s financial regulatory system and overturn many provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is now one step closer to becoming a reality, as the House of Representatives is set to consider the Financial CHOICE Act.
Read More

Monday Morning Cup of Coffee: Industry trade groups tell Senate how to fix financial regulations

MBA, CUNA weigh in on regulatory reforms
The main front for the Republican Party’s push for regulatory reform is in the House of Representatives, where an effort is underway to replace the Dodd-Frank Wall Street Reform Act with the Financial CHOICE Act. But the House isn’t the only place where regulatory reform is on the table. Here's a look at what some of the mortgage industry's biggest trade groups want the Senate to do about regulatory reform. All that, and more, in your Monday Morning Cup of Coffee.
Read More

Monday Morning Cup of Coffee: Representative continues attack on CFPB in local op-ed

Plus, who is the man behind reforming Fannie Mae and Freddie Mac?
Rep. Ann Wagner, R-Mo., doubled down in her battle to unseat Consumer Financial Protection Bureau Director Richard Cordray and overhaul the bureau in a guest commentary for her local newspaper. Meanwhile, looking at another controversial part of Washington, Fannie Mae and Freddie Mac meet the man in charge of reforming them. All of this and more gets unpacked in this week's Monday Morning Cup of Coffee.
Read More

[Watch] Hensarling: Dodd-Frank reform is a this-year priority

Congress only in the beginning stages
House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is at the forefront of reforming Dodd-Frank, spearheading one of the most prominent options to change the controversial act. His position of authority brings a lot more weight to his recent comments during a CNBC interview where he stated that dealing with Dodd-Frank is a this-year priority.
Read More

Hensarling compares CFPB to a tyranny

House Financial Services Committee Chairman continues assault on CFPB
It’s probably safe to say that House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is no fan of the Consumer Financial Protection Bureau. And as Hensarling told the Dallas Morning News in a recent interview, there are plenty of good reasons to change the CFPB.
Read More

Say goodbye to the controversial CFPB consumer complaint database?

Leaked memo: CHOICE Act 2.0 may shut it down
The Consumer Financial Protection Bureau’s controversial consumer complaint database might not have much life left. Last week, a memo reportedly from the House Financial Services Committee Chairman revealed plans for an even more aggressive version of the Republican-crafted Financial CHOICE Act, and one item included in the plans is the elimination of the consumer complaint database.
Read More

Hensarling plan for drastic overhaul of CFPB and Dodd-Frank revealed?

More aggressive version of CHOICE act
A new memo about future plans reportedly from House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, reveals an even more aggressive version of the Financial CHOICE Act, the Republican-led effort to repeal and replace Dodd-Frank. The memo, obtained by CNBC’s Ylan Mui, shows the Consumer Financial Protection Bureau is slated to face some of the most drastic changes. Is this finally the end for CFPB Director Richard Cordray?
Read More

Trump signs executive order to overhaul Dodd-Frank

Directs Treasury Secretary to review financial laws
As expected, President Donald Trump signed an executive order on Friday that begins to roll back the Dodd-Frank Wall Street Reform Act, the landmark legislation passed in wake of the financial crisis. “We’re signing new rules for regulating the U.S. financial system. It doesn’t get much bigger than that, right?,” Trump said just before signing the executive order.
Read More

Your handy guide to all of Trump's promised deregulation

Fitch Ratings report highlights potential impact
One of the many promises that Donald Trump made as a candidate was a massive deregulation effort. Now that he is president, Trump is indeed following through and leading a massive deregulation effort. And while there are many moving parts still to be sorted out, it’s clear that deregulation in some form is likely, if not a sure thing. But what will the impact of that deregulation be?
Read More