Links in “Agencies”
- Crapo Hammers Cordray on Privacy Concerns
At a Senate hearing, Mike Crapo (R-Idaho) criticizes CFPB's acquisition of data such as religion, social security numbers, and "major life events." Cordray counters that the data collection is a critical part of the agency's purpose and that the data are scrubbed to remove personally identifying information. [6/11/14]
- Consequences of Deceptive Advertising
A Pennsylvania-based home builder that offers home financing has settled Federal Trade Commission charges that it deceived consumers by advertising low-cost mortgages while hiding fees and not disclosing vital information about the true cost of the mortgages. [6/11/14]
- How Much Does FinCEN Share with Spy Agencies?
How much data from the 15 million CTRs and 1.5 million SARs filed annually by U.S. banks reaches the spy agencies? According to FinCEN's director, "we think we've gotten that balance right." [6/10/14]
- ABA Supports Bills Calling for More Openness at CFPB
ABA lends its support for H.R. 3770, which would require an independent audit of the CFPB and H.R. 4262, which would require the CFPB to keep its meetings open to the public. The legislation "will ensure that the Bureau remains transparent in its operations." [6/10/14]
- OCC Proposes Merger of Rules for National Banks & Federal Savings Associations
Attempting to reduce regulatory duplication, the OCC is proposing the integration of rules governing national banks and Federal savings associations. This effort would also try to revise some of the rules relating to policies and procedures for corporate activities and transactions to eliminate unnecessary requirements pertaining to safety and soundness. [6/10/14]
- Texas Case May Present SCOTUS Another Opportunity to Resolve Disparate Impact
Two prior Supreme Court of the United States cases that could have resolved the issue of disparate impact, which focuses not on discriminatory intent, but discriminatory impact, were settled before the court could rule. A new case, Inclusive Communities Project v. Texas Department of Housing, could give the court a third chance. [6/10/14]
- FDIC Shows Off New and Improved Education Materials
The FDIC made some significant improvements to the deposit insurance education materials on its website, allowing for quick public access to basic information in addition to the in-depth information already available. Check it out! [6/10/14]
- Cordray Testifies on CFPB Semi-Annual Report
Director Cordray testifies before the Senate Committee on Banking, Housing, and Urban Affairs regarding the CFPB's fifth semi-annual report, describing the Bureau's efforts to protect consumers in the consumer financial marketplace. [6/10/14]
- Obama to Lend a Hand on Student Loans
President Obama announced on Saturday that he âwill keep doing whatever [he] can without Congress to help responsible young people pay off their loans.â Today we will find out just what he has in mind. [6/9/14]
- Bigger Isnât Always Better
Residential mortgage loan lenders are increasingly willing to explore ways to loan money outside of the âqualified mortgageâ arena. What is one way they can do this? Jumbo loans. [6/9/14]
