Links in “Banks”

The White House funding requests for fiscal 2016 include increased funding for agencies to enforce Dodd-Frank. The White House said it would oppose efforts to roll back regulations or change the way the CFPB is funded. [2/3/15]

New York Times reports that Wells Fargo's litigation front did not have a good week when it lost a legal battle against a couple facing foreclosure of its $142,000 Missouri home. The couple has been awarded more than $3 million. In another case, a judge found there was substantial evidence that Wells Fargo had simply forged evidence to enforce its claim on a $170,000 property in New York. [2/2/15]

ABA writes to members of the House in favor of H.R. 601, the Eliminate Privacy Notice Confusion Act, which would exempt institutions from having to send out their privacy notice unless they had changed their privacy policies. [2/2/15]

ACLU sues a company and judge in Georgia on behalf of an African-American teenager who was jailed for five days for not paying court fines. "We seek to dismantle this two-tiered system of justice that punishes the poor among us, disproportionately people of color." [2/2/15]

After two cases were settled before they reached the Supreme Court of the United States, the third case made it all the way. Oral arguments have been concluded, and a decision is expected sometime before the end of June 2015. In the meantime, here is a summary of oral arguments. [1/30/15]

ICBA applauds the CFPB for proposed changes to qualified mortgage rules to allow community banks greater flexibility. The changes include increasing the threshold for the "small creditor" designation from 500 first-lien mortgage loans per year to 2,000. The definition of "rural" was also expanded. ABA chimes in with its support to here. [1/30/15]

Study finds that a card user can be identified with more than 90% accuracy just by looking at four purchases, even after the companies wiped away personal details of the transactions. [1/30/15]

The CFPB warns its supervised financial institutions against thinking that a third-party non-disclosure agreement can restrict the supervised entity from sharing certain information with its regulator. According to the CFPB, its authority trumps. [1/29/15]

One lawyer's take on Sen. Elizabeth Warren's Washington Post op-ed piece, in which she warns of dire impact should the Supreme Court strike down disparate impact. [1/29/15]

IT spending in North American banks is expected to grow 4.5% to $62.2 billion in 2015. Funds are mostly directed to maintenance, with other portions set aside for self-service machines, mobile banking, and other services and devices. [1/29/15]