Links in “Dodd-Frank”

The FY 2013 Report with a April 2014 date is released presenting hiring statistics at the Bureau as well as key insights into the goals of the CFPB. The 109-page report also presents statistics and insights into issues raised in the hiring practices and the efforts of the Bureau to respond to those issues through initiatives. [11/7/14]

The FRB issued a final rule to implement section 622 of the Dodd-Frank Act, prohibiting a financial company from combining with another company when the ratio of the merged company's liabilities is more than 10 percent of the aggregated consolidated liabilities of all financial companies. [11/6/14]

CFPB issues a definition under a final rule for certain alternative small servicing nonprofit entities. Exemption will not apply to credit union industry directly. Additionally, the CFPB's final rule also provides a cure mechanism for the points and fees limit that applies to qualified mortgages. [11/3/14]

CUNA "urges the CFPB to use a surgeon's precision in meeting Dodd-Frank Act requirements to change HMDA—and go no further than the act mandates," because they fear that the new HMDA rules are simply added weight onto the already burdened shoulders of credit union compliance staff. [10/30/14]

Six federal agencies approved a final rule that defines "qualified residential mortgage" and exempts their securitization from the risk retention requirement. [10/23/14]

Sixty-one days remain in the comment period for the CFPB's proposed rule to redefine and regulate larger participants within the automobile financing industry. The authority for such a change was granted as part of the Dodd-Frank Act. [10/8/14]

Fulfilling a requirement of the Dodd-Frank Act to develop a consumer education program, the CFPB has created tools known collectively as Owning a Home. The CFPB now wishes to test the effectiveness of these tools through field study testing, but would like your comments before doing so. [9/26/14]

The OCC's Thomas J. Curry told Senators that the condition of the nation's banks has improved since Dodd-Frank, but warns that supervisors need to remain vigilant to avoid a repeat of the financial crisis. [9/15/14]

Director Richard Cordray of the CFPB discussed Tuesday the implementation of the Dodd-Frank Act and the creation of the CFPB. In addition to reporting on specific accomplishments, Cordray addressed the overarching goals of the agency, saying "at the heart of our mission is the premise that consumers deserve to have someone stand on their side and make sure they are treated fairly in the financial marketplace." Thomas Curry of the OCC also provided this insight regarding improvements to safety and soundness since implementing the Dodd-Frank Act. [9/10/14]

The Federal Reserve Board and CFPB have announced increases in thresholds pertaining to Regulations Z and M as required the Dodd-Frank Act. These thresholds are to be adjusted annually based on increases in the Consumer Price Index, and will take effect on January 1, 2015. [9/10/14]