Items Tagged with 'Dodd–Frank Wall Street Reform and Consumer Protection Act'

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Happy 5-year anniversary CFPB! Will you make it to 6?

The shaky future of the CFPB
Five years ago today marked the first day of one of the most unique and powerful regulators in government. The entity, designed to fix one of the worst financial crises in America’s history, might not be around much longer, at least not in the same capacity the mortgage industry has come to know. The bureau might want to think twice about its birthday wish this year.
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Wall Street Journal editorial lauds Republican plan to abolish Dodd-Frank

"Regulators are no better than bankers"
Count the Wall Street Journal editorial board among the supporters of the Republican-crafted plan to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. In an editorial published on Sunday, the Wall Street Journal editorial board calls the Republican plan a "promising idea" that would "promote economic growth and protect taxpayers"
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Inside the foundation-shattering Republican plan to abolish Dodd-Frank

Includes ending 'too big to fail', dramatic overhaul of CFPB
If House Financial Services Committee Chairman Rep. Jeb Hensarling, gets his way, Tuesday, June 7, 2016 will soon be remembered as the day that the death clock started on the Dodd-Frank Wall Street Reform and Consumer Protection Act. Here's an in-depth look at the Republican-crafted plan to fundamentally change how the CFPB, the FHFA, and the country's entire financial system, functions.
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Here's everything you need to know about the CFPB

Let’s celebrate the Bureau’s 4th birthday!
While it may seem like the Consumer Financial Protection Bureau has been around forever, the CFPB actually opened its doors just four years ago: July 21, 2011. Here's everything you need to know about the agency synonymous with financial regulation.
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Mr. Frank goes back to Washington

Former Congressman to testify before Congress on Dodd-Frank impact
"The kind of terrible mortgage loans…the abuse of mortgage loans that hurt consumers, hurt financial institutions, and hurt the economy…we outlawed them and they haven’t been made since then," former Congressman Barney Frank said in a CNBC interview. "There have been some very real accomplishments."
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Happy 4th birthday Dodd-Frank! Everyone hates you

How effective has Dodd-Frank really been?
"As a Davis Polk & Wardwell LLP progress report on the legislation indicates, the deadlines for 280 rulemaking requirements have passed, as of July 18," analysts from SNL Financial write in a new report. “Of those, 127 deadlines were missed. Of the 398 total required rulemakings contained in the bill, 96 have yet to be proposed."
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CFPB issues TILA-RESPA compliance guide

Governs new mortgage disclosure forms
The Small Entity Compliance Guide will serve to help smaller lenders and other mortgage companies understand and comply with the new mortgage disclosure rules, designed to make it easier for consumers to understand the loan documentation.
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Hensarling blames Dodd-Frank for mortgage market volatility

Housing finance reform is a necessity for a sustainable market
The passing and implementation of Dodd-Frank gave the government more ineffectual power to micromanage the mortgage sector and ultimately reverse any progress made within the market itself, House Financial Services Chairman Jeb Hensarling, R-TX, said Tuesday.
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CFPB discovers lingering servicing compliance issues

Many nonbanks lack robust compliance systems
Nonbank servicers are having the most trouble meeting the CFPB's compliance expectations for mortgage servicing. Many of the firms continue to operate without the appropriate compliance management systems in place, the regulator claims.
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