Links in “Banks”
- 16 Trade Associations Lend Support to TRID Hold-Harmless Bill
A bill that would provide a hold-harmless period through the end of the year for the CFPB's TILA-RESPA integrated disclosures regulation receives the support of 16 trade associations, including those from both the banking and credit union industries. [5/7/15]
- Big Banks Face Foe in Presidential Long Shot
While he may have virtually no chance of winning the White House, the candidacy of Sen. Bernie Sanders (I-Vt.) is almost certain to make sure the effort to break up the "too big to fail" banks stays in the spotlight. [5/7/15]
- ICBA: Go, Bernie, Go!
The ICBA lends its whole-hearted support to legislation introduced by Sen. Bernie Sanders to break up "too big to fail" banks. [5/7/15]
- LA: High-Pressure Pushed Bank Employees to Open Unauthorized Accounts
Los Angeles is suing Wells Fargo alleging that high pressure on its employees pushed them to open unauthorized accounts that charged customers fees and damaged their credit. [5/6/15]
- CFPB’s Final Diversity Standards May Be Imminent
The six agencies under Dodd-Frank are undergoing final review of their diversity policy statement, signaling that release may be imminent. [5/6/15]
- Virtual Currency Gets its First Enforcement Action
FinCEN hits Ripple Labs with a $700,000 fine for BSA violations, alleging that the San Francisco-based startup operated in its early days as an unregistered money service business and neglected to comply with anti-money laundering rules. [5/6/15]
- Challenge to CFPB’s Constitutionality Fails
A divided D.C. Circuit Court affirms the dismissals of a lawsuit challenging the constitutionality of the CFPB on technical grounds. [5/5/15]
- Breathing Room for Good Faith Effort on New Disclosure Rules?
A bipartisan bill would shield lenders from regulatory enforcement and private lawsuits through year end if they make a good faith effort to comply with the new disclosure rules. [5/5/15]
- CFPB Shuts Out Congressman from Committee Meeting; Congressman Responds with Open Meeting Bill
The CFPB denied a request of Congressman Sean Duffy to attend its Consumer Advisory Committee meeting. In response, the Congressman introduced a bill, the Bureau Advisory Transparency Act, which would open all the CFPB's advisory committees to the public. [5/4/15]
- Could QM Rules be Watered Down for Portfolio Loans?
Qualified Mortgage rules could be watered down for loans that banks hold on their own balance sheets. The Senate Banking Committee is scheduled to vote on the matter on May 14. [5/4/15]
