Links in “Dodd-Frank”
- CFPB 1, Bankers 0
A U.S. District Court dismissed a case brought originally by a Texas bank and the Competitive Enterprise Institute that claimed the CFPB did not have the authority to regulate the financial services industry; the suit, which was later joined by 11 other states, challenged the constitutionality of the Dodd-Frank Act that created the CFPB. The plaintiffs plan to appeal. For a bank lawyer's take on the case, see State National of Big Spring Springs a Leak. [8/7]
- Some Relief and Potential Opportunities in Overseas Money Transfers from Dodd-Frank 1073
Section 1073 affected overseas money transfers, with the CFPB's proposed standards making it impossible for many providers to meet, creating a potential gap in crucial services; fortunately the amended final rule, set to take effect on October 28, 2013, carries positive implications for institutions in or considering entering overseas remittance transfers. [8/7]
- Texas Bank’s Case Against Dodd-Frank Thrown Out
Federal judge dismisses a Texas community bank's case, arguing the institution has no legal ability to challenge the 2010 financial reform law; judge says bank, which has an asset size well below CFPB's purview of $10 billion in assets, could not prove financial injury resulting from Dodd-Frank. [8/5]
- Senators Offer Alternative to Dodd-Frank
Sens. Moran, Tester and Kirk introduce the Community Lending Enhancement and Regulatory (CLEAR) Relief Act, S. 1349, as a means to provide regulatory relief to community banks from Dodd-Frank. [7/30]
- House Republicans Present PATH Act Counter to Dodd-Frank
The Protecting American Taxpayers and Homeowners Act (PATH) aims to fix housing finance and end the bailout for good; House Finance Services Committee will meet Thursday to discuss. [7/15]
- Like Checklists? Then You’ll Love CFPB’s Dodd-Frank Readiness Guide
Part II of new guide offers a checklist tool for self-assessment in determining your CUâs progress towards compliance with the new mortgage rules. [7/10]
- Dodd-Frank Readiness Guide Now Available
CFPB issues a Dodd-Frank Mortgage Readiness Guide to assist financial institutions with the new mortgage rules; guide also discusses the review process examiners will use to verify compliance and includes a âreadiness questionnaire.â [7/9]
- Bankers’ Top Concern: Regulatory Reform
What keeps bankers up at night? 46% said regulatory reform stemming from the Dodd-Frank Act and the CFPB. [6/28]
- The Circle of Life, Regulation Style
If Dodd-Frank has caused a rise in your caffeine consumption, can regulation on caffeine be far behind? [6/3]
- Dodd-Frank Increasing Competitive Advantage of Large Banks Over Small Banks?
Study: Impact of Dodd-Frank may be opposite of its intentions. [5/10]
