Items Tagged with 'regulation and compliance'

ARTICLES

  • Mulvaney unveils sweeping plan to dramatically alter CFPB

    Mulvaney: We commit to the CFPB’s statutory responsibilities, but will go no further
    Over the past few months, Mick Mulvaney has provided smaller indications about how much differently the Consumer Financial Protection Bureau will function under his leadership than it did under the bureau’s former director, Richard Cordray. But Monday, Mulvaney fully revealed his plan to dramatically alter how the CFPB operates.
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  • Wells Fargo hires former New York Fed exec to improve regulator relations

    Sarah Dahlgren named head of regulatory relations
    It’s probably safe to say that Wells Fargo has had a rough relationship with its various regulators over the past few years. Now, as part of an effort to improve its relationships with regulators, Wells Fargo is naming a new head of regulatory relations. Sarah Dahlgren, a long-time executive at the Federal Reserve Bank of New York will fill the role at Wells Fargo.
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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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  • 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.
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  • Dimon: FHA, servicing rules changes could add $300B in mortgages per year

    JPMorgan Chase CEO paints rosier picture of mortgage business in 2017
    Last year, JPMorgan Chase CEO Jamie Dimon painted a particularly unflattering view of the mortgage business in his yearly letter to shareholders. But this year, Dimon’s tone toward the mortgage business is much different. In the 2017 version of his letter to shareholders, Dimon suggested that with some (significant) changes, the mortgage business could grow considerably in 2017 and beyond.
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  • Trump: We're going to do a very major haircut on Dodd-Frank

    Tells gathered CEOs that administration is "absolutely destroying" regulations
    In the words of President Donald Trump, the era of “horrible regulations” is coming to an end. On Tuesday, during a gathering of some of the CEOs of the country’s largest companies, Trump told the crowd that his administration is working hard to “destroy” many of the regulations holding back the private sector - including Dodd-Frank - and plans to continue doing so.
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  • Here's what's wrong with the CFPB's practice of regulating through enforcement

    Companies are punished just to teach the rest of the industry a lesson
    CFPB Director Richard Cordray asserts that protecting consumers in financial matters involves too many bad actors trying to do too many bad things to be outlined in specific laws. As it turns out, it sounds like the CFPB might decide to take enforcement action against one particular company if they need to “send a public message of deterrence” to the whole industry. This is ludicrous.
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  • What does Trump's SEC chair choice think about deregulation?

    WSJ provides inside look at Jay Clayton’s likely approach
    President Donald Trump recently selected a new leader for one of the government’s top financial regulators, nominating top Wall Street lawyer Jay Clayton to serve as the chair of the Securities and Exchange Commission. But what does Clayton think about the current state of financial regulations? Here's a glimpse.
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  • 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?
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