Links in “Banks”
- On CFPB’s Radar: Credit Card Reward Programs
Director Cordray signals that CFPB will be considering the need for additional protections for credit card rewards programs. [11/21]
- Initial Industry Reaction to the New Mortgage Disclosure Forms Rule (All 1,888 Pages of It)
Initial praise and concerns from the Independent Community Bankers of America for the new mortgage disclosure form rules (nearly 1,900 pages worth) released yesterday . [11/21]
- What That Record $13B Fine Means for Other Financial Institutions
Other banks are "holding their breath" to see what the record $13 billion penalty against JPMorgan means to them. [11/21]
- Regions’ “Ready Advance” Product Raises Ire
Group plans protests against Regions Financial's "Ready Advance" product, which charges $1 cash advance for each $10 advanced to customers. [11/21]
- Advocacy Group Says Big Banks Neglecting Social Responsibility
Group finds seven largest banks scoring 60 or below in its study of corporate responsibility, including responsible lending, risk management, executive compensation, and political contributions. [11/21]
- CBA to CFPB: It’s Not Just About the Money
In response to the CFPB's marketing study that finds financial institutions devote 25 times more money to marketing than education, the Consumer Bankers Association responds that it is "not about the money spent, but the quality and effectiveness of the program." [11/20]
- CMS Key to Scaling Up Compliance to Meet Rising Demands
As introduced by the CFPB, a scalable Compliance Management System" is the key to keeping up with rising requirements. (Note: After reading this article, if you are interested in a demo of the AffirmXÂ platform, click here.)Â [11/20]
- When to Fight the Federal Government, According to Cuban
Contrary to the JPM "settlement seeking" approach, "bazillionaire" Mark Cuban prefers or more aggressive stance when it comes to taking on the federal government. It helps to have pockets that are very, very deep. [11/20]
- 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]
- JPM’s Preferred Approach to Regulatory Conflicts: Resolution
"It is very had to fight with your regulators or the federal government," says JPMorgan Chase CEO Jamie Dimon as news that its $13 billion settlement was finalized. [11/20]
