Links in “Agencies”
- Regulators: Turning up Heat on Big Banks until They Melt
Ever-intensifying heat on large banks designed to shrink them until they are no longer a threat to the financial system, countering the "too big to fail" mentality of the past. (The question is how much of the fire will spread onto smaller financial institutions.) [11/20]
- Marketing $ v. Education $: It’s a Marketing Blowout
CFPB releases study finding that marketing dollars spent by the financial services industry outpaces financial education dollars by 25 to 1. CFPB aims to neutralize that. [11/19]
- OCC Promotes Outreach to Rural America
OCC promotes bank involvement and examples of banks helping rural businesses grow and finance projects that expand manufacturing and bring services, goods, and jobs to rural communities. [11/19]
- Good News Credit Unions: TISA Burden Cut by 99.97%
NCUA revises TISA burden from 43.5 billion hours to just 9.9 million hours. Now that's cutting regulatory impact. Of course, it was a computation error, but nonetheless... [11/19]
- A Look at Life Without Dealer Participation
CFPB argues that the dealer finance participation model is fatally flawed because it allows dealers a level of discretion that results in higher rates for minority borrowers. [11/18]
- CRA Q&A Goes Final
Interagency Q&A revisions focus primarily on community development (CD) and clarify broader impact on institution's assessment area issues, nationwide and partial CD investments, director service activities and emphasis on CD Lending. [11/18]
- OCC Speaks Out on BSA
Speech at the ABA conference presents a renewed emphasis for FIs to promote a culture of BSA compliance, utilize technology and focus on holistic approach to BSA compliance. [11/18]
- RMIC Hit for Kickbacks
CFPB fines RMIC $100,000, but requires remediation efforts and cessation of practice. Fine focuses on alleged RMIC practice of requiring captive reinsurance to the benefit of lenders in exchange for referrals of private mortgage insurance business. [11/18]
- Auto-matic Warning from the CFPB
Cordray's comments at the Auto Finance Forum speaks to the limits of the CFPB against most auto dealerships (very limited except against the largest dealerships), but focuses on indirect auto lenders. [11/15]
- Industry Associations Join Together to Urge CFPB to Delay ATR/QM
ABA, ICBA and NAFCU send a joint letter to CFPB asking to delay final implementation of ability to repay/qualified mortgage rules scheduled for implementation in January 2014. [11/14]
