Links in “Agencies”
- Taking a “Macroprudential” Approach to Regulation
Fed governor Tarullo's remarks at Yale conference address the "macroprudential" perspective on regulation, which is the focus on the financial system as a whole as opposed to the well-being of individual institutions. [9/23]
- State Regulators to Conduct Exercise to Battle Corporate Account Takeover Attacks
Fourth year of national exercise will span two days and simulate different attack scenarios each day. [9/23]
- Regulatory Agencies Seek Comment on Revised Credit Risk Rules
Comments on revised credit risk on asset-backed securities sought. We'll see market view on expanded exemptions and definitions in proposal. [9/20]
- Another Day, Another Penalty: JPMC for ID Theft Product
The $60 million penalty along with referenced $300 million restitution focuses on an identity theft product that failed to deliver on all full benefits. The UDAAP principle in play merits review. [9/20]
- Happy Birthday, Fair Lending Analysts! 2012 HMDA Data Released
While CFPB releases a lovely visual tool, key analysis on comparative performance and other more sophisticated fair lending reviews for the nearly 7,500 financial institution HMDA reporters can begin in earnest. [9/19]
- OCC to JPMC: “Oh, This Too”âSCRA Lookback
Consent order hits JP Morgan Chase with unsafe or unsound practices in connection with the bankâs non-home loan debt collection litigation practices and the bankâs non-home loan compliance with the Servicemembers Civil Relief Act (SCRA). Actions include required actions on litigation practices associated with debt collection and a massive lookback for non-home loan debt collection practices (both SCRA and otherwise) from 2009 and SCRA from 2005. [9/19]
- OCC Speaks Out on Cyber Security
Comptroller's speech highlights increased risk related to ever increasing reliance on technology and telecommunications and the cybersecurity risks between them. [9/19]
- OCC Slams JPMC for Derivative Practices
$300 million CMP (civil money penalty) assessed for the failing to achieve the six core basics of derivative trading: (1) Oversight, (2) Governance, (3) Risk Management Process and Procedures, (4) Pricing Controls, (5) Model Implementation, and (6) Internal Audit Processes. [9/19]
- CFPB: Check Out the HMDA Numbers
New visual HMDA tool shows mortgage volume for key product types by area. Very colorful. [9/19]
- CFPB Strengthens Enforcement of Military Lending Act
The agency seeks to use its authority granted by Congress to protect servicemembers from illegal payday loans through the Military Lending Act. [9/18]
