Links in “Banks”
- Final Flood Rule Exempts Small Institutions
Financial institutions with assets of less than $1 billion will be exempted from the escrow requirements of the recently finalized flood insurance rule. [6/23/15]
- Escrow for Flood Insurance Premiums Rule Finalized
The newly finalized rule fixes some of the unintended consequences of a 2012 law, which saw premium hikes that shocked some consumers. [6/23/15]
- Scandal Risk Goes Up for Bankers When the Pressure Goes Up
A survey finds that bankers were more inclined to make unethical choices when pressured to reach tough performance targets. [6/22/15]
- TRID Delay Tied to Busy Time of School Year
One reason cited by the CFPB's director for the proposed delay of the effective date of the TILA-RESPA Integrated Disclosure rule was that the delay would "better accommodate the interests of many consumers and providers whose families will be busy with the transition to the new school year at that time." [6/22/15]
- D-Day for Disparate Impact?
Today could be the day that we find out if the Supreme Court will have a ruling on whether housing policy is subject to "disparate impact." [6/22/15]
- Cybersecurity with Zero Empathy for Human Behavior
People will share passwords, forget them, do unsafe things to get their jobs done. Today's cybersecurity design requires zero empathy for human behavior, assuming that users will do everything wrong. [6/19/15]
- FCC Exempts Data Breach and Fraud Alert Text Messages
FCC votes to exempt data breach and fraud alert messages from regulatory restrictions on calls and text messages to mobile devices, much to the banking industry's relief. But not everyone is happy. [6/19/15]
- Study on Impact of CFPB’s Proposal on Payday Lenders
A study projects an 82% revenue cut for payday lenders, likely forcing many of them to close, if the CFPB's payday loan proposals are implemented. The study "underscores the CFPB's complete lack of understanding of how its proposed rules would impact consumers." [6/19/15]
- Chopra Leaving CFPB for New York?
Reports have Rohit Chopra, who had been heading up the CFPB's efforts in student lending, may be leaving to possibly succeed Benjamin Lawsky as Superintendent of the New York Department of Financial Services. [6/18/15]
- Industry Applauds CFPB on TRID Delay
Big -- but brief -- sigh of relief from the industry on the CFPB's announcement that TILA-RESPA Integrated Disclosure Rule will be delayed until Oct. 1. See also here. [6/18/15]
