Links in “Banks”

Republican presidential candidate Jeb Bush proposes freezing any remaining regulations proposed by the Obama administration and cutting federal regulations as a way to increase job growth 3% and wages 6%. But don't get too excited yet -- he offered no specifics on which regulations would be cut. (Plus there's this whole business of winning an election first.) [9/22/15]

In what is likely a less-popular spin on "take your child to work day," ABA has kicked off "Take Your Lawmaker to Work Week." 100 banks have invited 200 members of Congress to spend a day in their bank to see, among other things, how regulations affect them. [9/22/15]

If your bank markets to a group in a non-English language, but you don't service all aspects of that product in that language, you're asking for regulatory trouble. So some institutions avoid marketing in non-English languages. All well and good, however regulators want banks to make credit more available to communities in their markets with limited-English proficiency by advertising in their languages. Simple to translate an ad, right? But then there's the expectation that you'll offer the entire servicing experience in those languages. And thus you have your conundrum. [9/22/15]

Survey finds that 37% of banks, the largest group, consider themselves to be "conservative and struggling to adjust." Only 18% consider themselves to be innovative. [9/22/15]

ICAB applauds the final rule that broadens the small-creditor designation under the CFPB's Qualified Mortgage rule from those that make 500 loans annually to 2,000 loans annually. The final rule also expands access to credit for rural customers. [9/22/15]

Survey finds that 52% of chief executives thought they had insurance coverage against cyber risks, and 15-20% of CFOs and risk officers thought they had it. Actually only 10% had it. "The difference between perception and reality is huge." [9/22/15]

A recent study by the Fed's Office of Inspector General regarding the CFPB's consumer complaint database had a number of criticisms. However, much of the study was conducted prior to substantial changes to the database that have since been implemented and address a number of the noted deficiencies. That said, the report expressed concerns about the ability to handle the growing volume of complaints, which have nearly tripled since the study was conducted. [9/21/15]

With the Oct. 3 implementation deadline for the TILA/RESPA Integrated Disclosures rapidly approaching, nearly 20 trade groups press the FFIEC with a request for clearly articulated details about how examinations will be handled during the transition period. The trade groups are not satisfied with the CFPB's guidance that regulators will be "sensitive to the good-faith efforts" of lenders. [9/21/15]

The House Financial Services Committee finds that Dodd-Frank has had the opposite effect of what was intended. [9/21/15]

Representatives of 12 consumer groups, nine community banks, and eight credit unions have be appointed to the CFPB's Consumer Advisory Board, Community bank Advisory Council, and Credit Union Advisory Council respectively. Anybody you know? [9/21/15]