Links in “Dodd-Frank”
- 114th Congress: Strategies to Chip Away at Dodd-Frank
The game plan, according to this article in the New York Times, is to seize on complex financial activities that few understand, then make supposedly minor tweaks to their governing regulations that end up getting them. [1/12/15]
- Senate Makes It Official: It’s Shelby
Senator Richard Shelby (R-Alabama) was elected chair of the Senate Banking Committee, replacing retiring Senator Tim Johnson (D-South Dakota). Dodd-Frank and the CFPB appear to be high on his agenda. [1/9/15]
- Settlement in First State Lawsuit Using Dodd-Frank Authority
New York's attorney general settled a UDAAP claim against a large subprime auto lender. The lawsuit was the first brought by a state attorney general under authority granted under Dodd-Frank Section 1042. But it will not be the last. [12/24/14]
- New CFPB Agenda Announced
The CFPB published its half-year 2015 regulatory agenda in the Federal Register. The more significant regulatory efforts listed include implementing the Dodd-Frank Act's mortgage protections including anticipated revisions and streamlining of key mortgage regulations including HMDA, RESPA, and TILA. The agenda further anticipates revisions to Regulation CC, the Expedited Funds Availability Act, and business lending rules under ECOA. [12/22/14]
- Battleground: Rolling Back Dodd-Frank via Spending Bills
The tactic of changing Dodd-Frank via urgent spending bills is either a pathway to solving issues in the financial services area or a hardball way to water down Dodd-Frank, depending on who you talk to. But it appears we have not seen the end of the approach. [12/19/14]
- OCC Provides Updated TILA Examination Guidelines
The OCC has released a new Truth in Lending Act booklet to replace the 2010 version in providing guidance and procedures related to examinations. The biggest changes surround Dodd-Frank's transfer of rulemaking authority and new requirements for high-priced mortgage loans. [12/17/14]
- Twelve Is the New Eight
The CFPB has announced that the maximum allowable charge a consumer reporting agency may charge consumers has increased from $8 to $12. This change will be effective starting January 1, 2015 and will be re-evaluated each year pursuant to the Dodd-Frank Act. [12/15/14]
- Last-Minute Fight to Extend Terrorism Insurance
A federal program to insure property against the risk of terrorism is set to expire Dec. 31. Some lawmakers are seeking to include a measure to extend the insurance for six more years into a larger bill to revise Dodd-Frank. Other lawmakers don't consider the proposed extension to be part of a must-pass federal spending measure to be negotiated this week. [12/10/14]
- Former FDIC Chair on Dodd-Frank: Ease Up on Smaller Banks
Time for regulatory relief for smaller and mid-sized banks, including taking the chains off mergers among smaller institutions, according to former FDIC Chairman William Isaac. [11/26/14]
- Agencies Finalize Credit Risk Retention Rules
The finalized risk retention rule from the FDIC, FRB, OCC, SEC, HUD, and FHFA reduces the risk retention requirements for ABS collaterlized by commercial, commercial real estate, or auto loans and includes a prohibition of hedging and the transfer of risk retention. [11/20/14]
