Links in “Banks”
- The Changing Face of “Too Big to Fail”
The Fed is giving a makeover to "too big to fail" that would prevent the government from the same type of emergency lending to troubled institutions that it engaged in during the last fiscal crisis. [12/1/15]
- House GOP Report Calls CFPB’s Ally Settlement a “Shakedown”
Republicans on the House Financial Services Committee issued a report that called the CFPB's methodology for determining discrimination at Ally Financial  "junk science," saying the CFPB went after the lender because it knew it would settle quickly. The committee chair called the settlement "a shakedown" by "a dangerously out-of-control agency." [11/30/15]
- Strange Bedfellows: Banks and Online Lenders
Not long ago, the banking industry and online lenders wouldn't have anything to do with the other. But now they are looking at each other with the idea that maybe marriage is in the cards. [11/30/15]
- California Case Could Put the Breaks on Class Action Suits
Under a case before the California Supreme Court, lawyers who handle class action lawsuits would be paid based on the hours they put into a case, not the percentage of money recovered for their clients. [11/30/15]
- Programming Note
Risk InboX will resume posting on Monday, Nov. 30. The editors and contributors of Risk InboX wish you and your families a Happy Thanksgiving. (Note: The picture is not really us. But given how we dressed for work today, we are thankful for stock photos.)
- Compliance Community’s Blind Spot: Innovative Technology
Financial tech sector talks about compliance all the time. But conferences of the compliance community seldom address technology. Why this is dangerous. [11/25/15]
- 26 Months and Counting: Debt Collection Retains its Hold as Top Complaint
CFPB's November 2015 complaint report proclaims debt collection as the top consumer complaint, the 26th consecutive month it has held that position. 28% of all complaints received have to do with debt collection. Here's what else is on the list. [11/25/15]
- Apprehensions About TRID Big, But Impact Small
Predictions that the mortgage industry would implode under the requirements of the TILA-RESPA Integrated Disclosure rule may have been overblown, according to this survey, which finds that TRID's impact so far has been minor. [11/24/15]
- Meanwhile in the U.K.: One in Five Bank Accounts Hit by Cybercrime
New research shows that 21% of U.K. consumers have had personal details stolen and their bank accounts used to buy goods and services via a cyber breach. [11/24/15]
- Is CFPB Privately Tight with Advocacy Groups?
Report puts spotlight on the CFPB's "extensive private relationship with advocacy groups." A FOIA request uncovers numerous phone calls and meetings between the CFPB and Center for Responsible Lending. [11/23/15]
