Valuations

ARTICLES

White House spokesperson: Trump believes CFPB is "unaccountable"

WSJ reports that President Trump disagrees with Court of Appeals ruling
Given the Trump administration’s recent maneuvering to fire Consumer Financial Protection Bureau Director Richard Cordray, it’s probably not a surprise that President Donald Trump disagrees with the U.S. Court of Appeals for the District of Columbia Circuit’s decision to rehear a challenge to the CFPB’s constitutionality.
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Veros partners with Ellie Mae to offer AMC valuation option

Lenders can now manage their panel of appraisers
Veros partnered with Ellie Mae in order to bring more control to lenders through the appraisal process. Now, lenders can go through the new solution in place of using AMCs. Veros explains this software will help improve efficiency in the loan origination process.
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New York unveils final cybersecurity regulations

New rules take effect on March 1
Last year, the state of New York announced a series of sweeping regulations that require banks, insurance companies, and other financial services companies to significantly increase their cybersecurity programs. The rules are set to take effect on March 1, 2017, and now, with less than two weeks until the rules take effect, New York is releasing the final version of the regulations.
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Court of Appeals agrees to rehear CFPB case, agency to fight "unconstitutional" ruling

Full court will rehear PHH case
If President Donald Trump wants to fire Consumer Financial Protection Bureau Director Richard Cordray, he’s going to have to wait a little longer to do it, as the U.S. Court of Appeals for the District of Columbia Circuit ruled Thursday in favor of the CFPB. The ruling allows the embattled agency to defend the constitutionality of its leadership structure.
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Senate Republicans unveil bill to rein in CFPB spending

Want agency brought under Congressional appropriation process
The sharks swimming around the Consumer Financial Protection Bureau now appear to smell blood in the water. Now, those who defend the CFPB face another battle, as several Senate Republicans unveiled a bill this week that would give Congress oversight of the CFPB.
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CFPB analyst: We use consumer complaint database as insider guide for exams

Analyzes complaints for potential legal violations
The Consumer Financial Protection Bureau’s consumer complaint database has been a source of controversy since its inception, as many industry participants took issue with the fact that the complaints were made public, despite potentially being unverified and unproven. And based on what one CFPB analyst said Wednesday, you can see why the complaint database is the bane of the financial industry’s existence.
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Ted Cruz introduces bill to abolish CFPB

Texas senator partners with Rep. John Ratcliffe to reintroduce bill
While there appears to be some in the Republican Party who simply want to reform the Consumer Financial Protection Bureau, there are at least two Republicans on Capitol Hill who want to kill the agency altogether. The bills, introduced by Sen. Ted Cruz, R-Texas, and Rep. John Ratcliffe, R-Texas, would repeal Title X of the Dodd-Frank Wall Street Reform Act, which would abolish the CFPB entirely.
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Mixed reaction to Mnuchin officially taking over as Treasury Secretary

Republicans pleased, Democrats not so much
Considering the contentious nature of the confirmation process, it’s not a surprise that reaction to Steven Mnuchin officially being sworn in as the next Secretary of the Department of the Treasury varied wildly. As you might expect, Republicans celebrated Mnuchin’s confirmation, while Democrats decried it.
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It's official: Steven Mnuchin sworn in as Treasury Secretary

Senate approves former OneWest exec for cabinet post in largely partisan vote
Despite all the bluster, attempted parliamentary maneuvering, and name-calling from the Democratic party, the Senate voted Monday evening to approve Steven Mnuchin to serve as the next Secretary of the Department of the Treasury. As expected, the Senate approved Mnuchin in a partisan vote of 53-47, with one Democrat, Sen. Joe Manchin, D-West Virginia, splitting from his party and voting with the Republican majority.
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