Links in “Banks”
- A Call for the Administration to “Go Big” on Reform
Rather than fight to salvage what it can of Dodd-Frank, the White House should "go big," and work to put in place a significant overhaul of the financial system, which has not learned its lesson, according to this piece in the New York Times. [1/15/15]
- Industry Group Gives F to CFPB’s “Safe Student Account Scorecard”
CBA says the CFPB's information is based on an "antiquated study" that focuses on the wrongdoings of a single non-bank institution. [1/15/15]
- House Passes Bill to Erase Portions of Dodd-Frank
The bill, which the White House threatened to veto, would delay implementation of the Volcker Rule, a key piece of Dodd-Frank. It passes handily in the House. The Senate will likely be another story. [1/15/15]
- CFPB to Colleges: Do Your Homework
CFPB prods colleges to do a better job negotiating more student-friendly deals with banks that offer financial products to students. [1/15/15]
- Critical Update on FHA’s New MIP Cancellation Procedures
Lenders wishing to cancel case numbers for loans in process pursuant to Mortgagee Letter 2015-01. Critical update on FHA's New MIP Cancellation Procedures. [1/14/15]
- Cybersecurity: White House Attempts to Walk the Line Between Privacy and Information Sharing
President Obama proposes information sharing between government and the private sector on cyber threats in a way the White House says satisfies privacy concerns. [1/14/15]
- TRIA Extension: It’s Official
President Obama signs a six-year extension of the Terrorism Risk Insurance Act. [1/14/15]
- Cashless Society? Not Yet
What's in your wallet? New study by the Fed Reserve of Boston finds that the amount of cash in circulation keeps rising. And while the median amount of cash carried by consumers is $22, there are many who routinely carry around more than $100. Typically these high rollers are consumers with higher incomes, which undercuts the idea that cash is mainly for the poor who are unbanked. [1/13/15]
- Bankers Send Wish List to Congress
ABA sends Congressional leaders a list of its top legislative priorities for the 114th Congress. Top of the list: measures to remove "excessive regulation and overzealous enforcement." [1/13/15]
- ABA Asks OIG to Investigate CFPB’s Complaint Database Controls
The ABA writes the Office of the Inspector General to request an audit of the CFPB's consumer complaint database, calling the bureau the "official purveyor of unsubstantiated, and potentially false, information." [1/13/15]
