|
|
|
|
| |
 Cordray on the Hill, and more, in MarchConsumer Financial Protection Bureau Director Richard Cordray will be appearing on the Hill to give the bureau’s semi-annual report to Congress under Section 1016 of the Dodd-Frank Act. Additionally, there will be several other upcoming deadlines and events regarding the bureau, including a job application deadline, an arbitration field hearing and five comment session closings. Read on to find out what is happening in March. Regulators, industry dig into regulatory relief for community banks (Part 2)The Senate Banking Committee held two hearings on regulatory relief for community banks and credit unions. The first hearing included testimony from the regulators while members within the industry testified during the second session. Part 2 of our report focuses on what industry members recommended. Regulators, industry dig into regulatory relief for community banks (Part 1)The Senate Banking Committee held two hearings on regulatory relief for community banks and credit unions. The first hearing included testimony from the regulators, while members within the industry testified during the second session. Part 1 of our report focuses on what the regulators discussed. Study ties added regulations to declining community bank shareIn a working paper released from Harvard’s Mossavar-Rahmani Center for Business and Government, it was found that community banks facing added regulatory burdens since the adoption of the Dodd-Frank Act have decreased shares in banking and lending market. Read on to learn more. CFPB takes UDAAP action against nonbank lenderThe Consumer Financial Protection Bureau took action against a mortgage origination business that engaged in deceptive acts by failing to disclose a payment scheme involving illegal business referrals. FHFA proposes nonbank requirements to work with Fannie, Freddie The Federal Housing Finance Agency proposed new minimum financial eligibility requirements for Fannie Mae and Freddie Mac nonbank sellers and servicers that will include net worth, capital ratio and liquidity criteria. Read on to learn more. |
|
Recent Headlines
|
Watt defends scorecard, strategy in testimony The Federal Housing Finance Agency released its 2015 Scorecard to assess the progress Fannie Mae, Freddie Mac and Common Securitization Solutions make in achieving the agency’s goals as outlined in its Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac. On Jan. 27, FHFA Director Melvin Watt defended several of the agency’s goals and strategies in his testimony before the House Financial Services Committee. Read on to learn more. |
|
|
Mortgage Headlines
|
ABA seeks detailed examples of regulatory burdensDuring the Senate Banking Committee’s Feb. 12 hearing on regulatory relief for community banks and credit unions, senators asked industry representatives about the specific laws and regulations that prevent community bankers from servicing their customers. The American Bankers Association has launched an online form for bankers to submit their stories to the committee. Read on to learn more and to access the online form. |
|
|
Banking Headlines
|
Cordray on the Hill, and more, in MarchConsumer Financial Protection Bureau Director Richard Cordray will be appearing on the Hill to give the bureau’s semi-annual report to Congress under Section 1016 of the Dodd-Frank Act. Additionally, there will be several other upcoming deadlines and events regarding the bureau, including a job application deadline, an arbitration field hearing and five comment session closings. Read on to find out what is happening in March. |
|
|
CFPB Headlines
|
Warren, Cummings request swaps trading info from big banksSen. Elizabeth Warren, D-Mass., and Rep. Elijah E. Cummings, D-Md., sent letters to the Bank of America, JPMorgan Chase, Citibank and Goldman Sachs that requested information on how the banks would alter their swaps trading practices in response to the passage of Section 360 of the 2015 Consolidated and Further Continuing Appropriated Act. |
|
|
Derivatives Headlines
|
Agencies release public portions of living willsUnder the Dodd-Frank Act, bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated for enhanced prudential supervision by the Financial Stability Oversight Council are required to submit resolution plans to the Federal Reserve Board and the Federal Deposit Insurance Corp. describing the company’s resolution strategy in the event of material financial distress or failure. The public versions of these resolutions, commonly known as living wills, recently have been released. Read on for the details. |
|
|
Financial Stability Headlines
|
|
|
Featured Stories
|
 |
|
|
| |
|
|
|
 |
Letter to Bank of America 1.29.2015Sen. Elizabeth Warren, D-Mass., and Rep. Elijah E. Cummings, D-Md., sent letters to the Bank of America, JPMorgan Chase, Citibank and Goldman Sachs that requested information on how the banks would alter their swaps trading practices in response to the passage of Section 360 of the 2015 Consolidated and Further Continuing Appropriated Act. Click the link to read the copy sent to Bank of America. banks, swaps, letter, Warren, request for info |
|
|