Links in “Banks”

Two studies suggest that the CFPB's assertion that student loan debt discourages homeownership are overblown. [6/27/14]

While the U.S. Supreme Court invalidated President Obama's 2012 recess appointments to the National Labor Relations Board, on the grounds that such appointments can only be made to fill vacancies that arose during the recess, the ruling won't impact CFPB's Director Cordray, even though he was appointed on the same day and in the same way as the NLRB appointments. Here's why. [6/27/14]

One of the nation's fastest growing SuperPACs, Friends of Traditional Banking, has grown to nearly 6,000 members in all 50 states. The group has announced its short list of Congressional races it is closely watching to determine which it will lend its financial support. [6/27/14]

New report finds that zombie properties, properties where the foreclosure process has stalled but the homeowner has vacated the property, have been declining, but won't go away. There were 141,406 zombie properties nationwide in Q2 2014, compared to 152,000 in Q1 2014. [6/26/14]

CFPB is recruiting for its second round of participants in its Technology & Innovation fellowship program, a two-year program for tech developers. The first group's work include developing an online tool to visualize and track HMDA data, the "Ask CFPB" FAQ feature, and eRegulations. [6/26/14]

No matter where you are in compliance, from a newly appointed compliance officer to a 10-year veteran in the position, the key to compliance is to commit to ongoing education. [6/26/14]

It doesn't get the publicity of the higher-profile cybersecurity breaches of retailers, but wire transfer fraud costs approach $1 billion per year with a simple ploy: bad guy gains access to a bank account, wires as much money as possible to another bank account, and tries to withdraw the stolen money before anyone notices. [6/25/14]

U.S. Department of Housing and Urban Development receives a complaint from the National Fair Housing Alliance about a real estate company, sends in black testers and white testers. Black testers were steered toward "rough" neighborhoods, while white testers were steered toward "safer" neighborhoods. The company will pay a fine, agree to provide training and establish a non-discrimination policy. [6/25/14]

NAFCU President/CEO Dan Berger sets the records straight regarding an article promoting the elimination of the CU tax exemption that appeared in the American Bankers Association’s publication, The Hill, on June 23^rd.  Berger cites an independent tax study that found that repeal of the tax exemption would result in Americans losing an estimated $17 billion in economic benefits and costing the federal government about $15 billion in lost tax revenue. [6/25/14]

While the financial services industry is making substantial investments in cybersecurity, two bills making their way through the Senate that would enhance coordination with the Federal government's cybersecurity efforts are also needed, according to the ABA. [6/25/14]