Items Tagged with 'Dodd-Frank Act'


  • Who watches the Watchmen? Former senior FDIC employee found guilty of stealing confidential bank documents

    Stole banks’ living will documents while applying for jobs at those same banks
    The Federal Deposit Insurance Corp. is one of the nation’s top banking regulators, but one of the agency’s former senior employees faces 20 years in jail for stealing confidential documents from the world’s largest banks while trying to get a job at those very same banks.
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  • CFPB considers ending public access to bank complaints

    “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says
    A new report from the Wall Street Journal says the Consumer Financial Protection Bureau is considering ending the public's access to its complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
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  • CFPB requests input on adopted regulations and new rulemaking authorities

    Continues to evaluate its processes
    The Consumer Financial Protection Bureau put in a request for input on its adopted regulations and new rulemaking authorities. The CFPB explained it is considering whether it should amend any rules it has issued since its creation or issue rules under new rulemaking authority provided for by the Dodd-Frank Act.
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  • Senate agrees to begin debate over Dodd-Frank overhaul bill

    Housing industry hopeful as bill nears a vote
    The Senate passed a motion Tuesday to proceed to debate on a bill that would overhaul major parts of the Dodd-Frank Act. The Senate is expected to vote on the bill at some point this week. And one expert explained, due to its bipartisan support, the bill is expected to pass.
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  • Senate Banking Committee introduces repeal of Dodd-Frank Act

    Housing industry stands in support of bill
    The Senate Banking Committee is set to begin its repeal of the Dodd-Frank Act, changing key aspects with a bill sponsored by Banking Committee Chairman Mike Crapo with nearly 20 co-sponsors on both sides of the aisle. But while most members of the housing industry support the bill, some say it encourages the finance industry to engage in the type of reckless lending that caused the Great Recession.
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  • Treasury report calls for extensive regulatory relief to finance industry

    Focuses on non-legislative reform
    As directed by President Donald Trump, the U.S. Treasury published a report Friday that calls for sweeping financial reform, including changes that would weaken the Dodd-Frank Act. The report claims regulations enacted after the Great Recession made it more difficult for financial institutions to recover, and made for one of the weakest economic recoveries in U.S. history. Here are some of the changes it calls for.
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  • Trump talks Dodd-Frank: We’re going to cut regulations tremendously

    Trump discusses regulatory rollback in wide-ranging New York Times interview
    In an expansive, wide-ranging interview with the New York Times, President Donald Trump stated that he would not have selected Jeff Sessions to serve as attorney general if he knew that Sessions would recuse himself from the investigation into Trump's suspected ties to Russia. And while that proclamation seems to be grabbing all the headlines, Trump also discussed a number of other issues, including his administration's push to roll back Dodd-Frank and the administration's efforts to cut regulations "tremendously."
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  • Federal Reserve: All banks passed stress tests again

    Largest banks in U.S. have enough capital on hand to survive “severe recession”
    On Thursday, the Federal Reserve announced the results of the annual stress testing, which showed that all 34 participating financial institutions are adequately capitalized and could withstand a "severe recession." It's the second year in a row that all of the participating banks passed the stress test.
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