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PHH ruling vacated, Cordray safe?
Posted Date: Friday, February 17, 2017
The D.C. Court of Appeals has granted the Consumer Financial Protection Bureau’s (CFPB) petition for a rehearing of the case of PHH Corp. v. CFPB. With the previous appellate court ruling vacated, President Donald Trump can remove CFPB Director Richard Cordray only for cause.
In addition, the CFPB’s status as an independent agency is confirmed, which affects how it complies with recent executive orders issued by Trump.
Read on to learn why Trump may have to wait and see what the court decides before deciding whether to remove Cordray.
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Cordray’s first words on Trump administration
Posted Date: Monday, January 30, 2017
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray addressed multiple uncertainties about the future of the bureau’s mission, structure and legislation that could affect it on both fronts during a recent recorded interview with The Wall Street Journal.
Cordray was candid talking about the bureau’s record of enforcement actions and other activities aimed at providing consumer protection and following his interpretation of congressional directives laid out for the bureau. He was less open to addressing questions regarding how President Donald Trump’s administration will affect the CFPB’s structure and his role and the bureau. Read on to learn more about what he had to say.
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Hensarling: Fire Cordray immediately
Posted Date: Friday, February 10, 2017
House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas) is among several Republicans calling for an overhaul of the Dodd-Frank Act and the removal of Consumer Financial Protection Bureau Director Richard Cordray.
Hensarling reiterated his opposition to the law and the bureau’s structure during recent recorded interviews. His views echo those expressed in a letter drafted by congressional Republicans, which called for Cordray’s dismissal and said the president has the power to ignore any statute he believes to be unconstitutional. Read on to learn more about what has been said.
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Trump issues order to reduce regulations ‘big time’
Posted Date: Sunday, February 5, 2017
Prior to signing an executive order intended to reduce government regulation Jan. 30, President Donald Trump and Vice President Mike Pence addressed their desire to bring financial reform and regulatory relief during a recent Congressional Republican Retreat in Philadelphia. Trump’s and Pence’s remarks drew praise from Rep. Jeb Hensarling (R-Texas) in a statement following the retreat. Read on to find out details about the latest executive order from Trump and what was said during the retreat.
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Bill introduced to repeal CFPB prepaid card rule
Posted Date: Friday, February 17, 2017
Rep. Roger Williams (R-Texas) introduced Feb. 14 a bill to repeal the Consumer Financial Protection Bureau’s (CFPB) final rule amending Regulation E and Regulation Z to include prepaid cards under the Electronic Fund Transfer Act and the Truth in Lending Act.
This is the first CFPB rule to be subjected to the Congressional Review Act (CRA) and was introduced the day President Donald Trump signed the repeal of an SEC rule through the CRA process.
Read on to learn more about the bill and the rule it seeks to repeal.
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Texas judge rules in favor of DOL fiduciary rule
Posted Date: Thursday, February 16, 2017
Texas judge Barbara Lynn ruled in favor of the Department of Labor (DOL) and against the plaintiffs Feb. 8 regarding a cross-motion for summary judgment on the DOL’s “fiduciary rule,” which would redefine when financial professionals must act in accordance with fiduciary standards and implement new provisions intended to eliminate conflicts of interest.
The ruling came mere hours after DOL attorneys filed to stay the proceedings until the department submitted a status review regarding the rule, as directed by President Donald Trump in a Feb. 3 memorandum.
Read on to learn more about the case, the plaintiffs and on what grounds both sides based their arguments.
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Trump signs CRA repeal of SEC rule
Posted Date: Friday, February 17, 2017
Nearly two weeks after the Senate passed the motion via the Congressional Review Act, President Donald Trump signed a bill to repeal the Securities and Exchange Commission’s rules requiring commercial developers of oil, natural gas and minerals to disclose any payments made to U.S. or foreign governments.
House Speaker Paul Ryan has indicated, in no uncertain terms, that he does not expect this to be the last final rule to be repealed by the CRA under Trump. Read on to learn more about the motion and published remarks made by Trump and others.
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Fed cuts large, noncomplex firms from CCAR
Posted Date: Thursday, February 16, 2017
The Federal Reserve Board recently finalized a rule removing large and noncomplex firms from the qualitative assessment of the Federal Reserve’s Comprehensive Capital Analysis and Review.
The Fed said in a press release that doing so would reduce the burden on such firms and focus the qualitative review in CCAR on the largest, most complex financial institutions. The final rule underwent some changes in response to comments. Read on to find out what provisions made the final cut.
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FTC appoints new acting director
Posted Date: Tuesday, February 21, 2017
Federal Trade Commission (FTC) Acting Chair Maureen K. Ohlhausen recently appointed Thomas Pahl as acting director of the FTC Bureau of Consumer Protection.
Pahl succeeds Jessica Rich, who was appointed director of the agency’s Consumer Protection Bureau in 2013 by former FTC Chair Edith Ramirez. Pahl also has worked on debt collection issues at the Consumer Financial Protection Bureau.
Read on for more details about Pahl and his background with the FTC.
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ICBA supports recapitalizing GSEs
Posted Date: Tuesday, February 21, 2017
The Independent Community Bankers of America (ICBA) is urging the Treasury Department and Federal Housing Finance Agency to allow Fannie Mae and Freddie Mac to build capital by suspending dividend payments.
This stance runs counter to the Mortgage Bankers Association’s recent proposal to privatize existing government-sponsored enterprises (GSEs) and charter new privately owned ones to increase competition.
Read on to learn more about ICBA’s view on the matter.
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MBA proposes privatizing GSEs
Posted Date: Monday, February 6, 2017
The Mortgage Bankers Association (MBA) has proposed a plan to reform the secondary mortgage market by ending the conservatorship of Fannie Mae and Freddie Mac, and allowing private entities to be chartered as government-sponsored enterprises (GSEs) with explicit federal guarantees on mortgage-backed securities.
The association released a report outlining various aspects of its proposal, and plans to release another in April with more details. Read on to learn more about proposal.
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ICBA asks Trump administration to curb regulations
Posted Date: Wednesday, February 8, 2017
Stating that community banks are encountering ever-increasing numbers of enforcement actions, The Independent Community Bankers of America (ICBA) recently called on President Donald Trump’s administration to rein in the application of fair lending laws it claims are “overzealous.”
Read on to find out more about the association’s argument over the enforcement of fair lending laws by federal regulators.
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Supreme Court settles ‘whistleblower’ dispute
Posted Date: Friday, February 23, 2018
The Supreme Court recently settled a running debate about under what circumstances a whistleblower should receive protection from the Securities and Exchange Commission (SEC) with a unanimous ruling to dismiss charges levied by a fired employee against his former company.
The high court’s interpretation of what defines a “whistleblower” under federal law becomes the law of the land moving forward.
Find out more about how the justices reached their decision.
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Trump names new acting chairman of NCUA
Posted Date: Tuesday, January 31, 2017
President Donald Trump recently named J. Mark McWatters as new acting chairman of the Nation Credit Union Administration, effective Jan. 26, succeeding Rick Metsger in the position.
The decision was met with approval from leaders of the national credit union trade organizations, as well as Rep. Jeb Hensarling (R-Texas). Read on to learn more about McWatters appointment and reception.
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SEC awards whistleblowers $7 million
Posted Date: Monday, February 6, 2017
The Securities and Exchange Commission (SEC) recently awarded three whistleblowers a total of more than $7 million for providing the agency information used to prosecute the perpetrators of an investment scheme.
The information the whistleblowers provided helped the SEC recover more than $935 million in financial remedies for those harmed by the scheme. Read on to learn more.
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Trump briefly mentions regs in address
Posted Date: Tuesday, March 7, 2017
Given the recent onslaught of executive orders and legislation introduced to curtail financial regulations and overhaul the Consumer Financial Protection Bureau (CFPB), President Donald Trump’s first official joint address to both the House and the Senate was relatively sparse on mentions of the financial industry, and contained zero references to the CFPB.
Trump, however, briefly touted two of his executive orders aimed at deregulation.
Read on to learn more about the orders he mentioned and their implications.
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How many community bank wishlist items will come true?
Posted Date: Monday, March 6, 2017
Small banks long have advocated for a regulatory regime that does away with the current one-size-fits-all mentality. Chris Cole, executive vice president and senior regulatory counsel of the Independent Community Bankers of America (ICBA), spoke with Dodd Frank Update about what aspects of ICBA’s Plan for Prosperity that he is most confident can be brought to fruition, whether through legislative action or changes in leadership. Read on to find out what he expects to be coming down the pipeline in the near future.
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Altisource launches mortgage trading platform, noteXchange
Posted Date: Monday, March 6, 2017
Altisource, a provider of real estate, mortgage and technology services, has announced the launch of noteXchange, a state-of-the-art proprietary mortgage trading platform, at its Annual Lenders One Winter Conference. Read on to learn more.
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ARMCO mortgage industry trends report reveals increases, decreases in key loan defect areas
Posted Date: Monday, March 6, 2017
ACES Risk Management, a provider of financial quality control and compliance software, announced that it has released its ARMCO Mortgage QC Industry Trends report for the third quarter of 2016. Using the Fannie Mae loan defect taxonomy, the report analyzes post-closing quality control data from loan files and findings captured by the ACES Analytics benchmarking system. Meaningful information contained in the report provides the industry with insight into the current state of loan quality nationwide. Read on to learn more.
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Wells Fargo names two to board
Posted Date: Wednesday, March 1, 2017
Saying it was working to restore trust among customers and shareholders, Wells Fargo’s board of directors has elected two new independent directors.
Joining the Wells Fargo board are Karen B. Peetz, retired president of The Bank of New York Mellon Corp., and Ronald L. Sargent, retired chairman and CEO of Staples, Inc.
Read on to learn more about the new directors of the board.
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FTC report details debt collection enforcements
Posted Date: Wednesday, March 1, 2017
The Federal Trade Commission (FTC) recently submitted to the Consumer Financial Protection Bureau (CFPB) its 2016 report detailing its activities enforcing the Fair Debt Collection Practices Act (FDCPA), as well as a summary of its activities related to compliance with Regulation B and the Equal Credit Opportunity Act (ECOA).
Read on to learn what types of activities the FTC conducted during the past year.
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Wells Fargo fires four executives during investigation
Posted Date: Tuesday, February 28, 2017
Wells Fargo has fired four executives based on findings of an ongoing investigation by the company’s board of directors into the company’s retail banking sales practices and other related matters. The employees were all current or former senior managers in the company’s Community Banking Division. Read on to learn more about the terminations, as well as when findings of the board’s independent investigation will be made public.
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Potential CFPB replacement tied to OneWest, Mnuchin
Posted Date: Tuesday, February 28, 2017
With Comptroller of the Currency (OCC) Thomas Curry’s term up in April and the Consumer Financial Protection Bureau’s (CFPB) independent status in question in the court system, President Donald Trump is considering multiple former OneWest employees to take over two of the nation’s most powerful federal regulating bodies. OneWest, formerly known as IndyMac, was purchased and renamed by recently confirmed Treasury Secretary Steven Mnuchin, who sold it to CIT in 2015. Read on to learn more about the identities and backgrounds of candidates sources say Trump is considering.
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Bill would sever CFPB funding
Posted Date: Tuesday, February 28, 2017
Sen. Mike Rounds (R-S.D.) recently introduced a bill that could accomplish the Trump administration’s goal of dismantling the Consumer Financial Protection Bureau (CFPB) by eliminating the Federal Reserve’s statutory obligation to fund it. If passed, the bill would eliminate or replace several paragraphs from the Consumer Financial Protection Act requiring the allocation of funds to the bureau.
Read on to learn more about Rounds’ bill and why it is different from others targeting the CFPB.
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CFTC details credit for cooperation
Posted Date: Tuesday, February 28, 2017
The CFTC recently issued two new Enforcement Advisories outlining factors the enforcement division will consider when evaluating how much credit individuals and companies deserve for their cooperation during investigations and enforcement actions.
The advisories detail what the enforcement division looks for beyond “ordinary cooperation or mere compliance with the requirements of law.”
Read on to learn how cooperation can benefit you if you happen to find yourself, or your business, under CFTC investigation.
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SEC director of OCIE steps down
Posted Date: Tuesday, February 28, 2017
The Securities and Exchange Commission (SEC) recently announced that director of the SEC’s Office of Compliance Inspections and Examinations (OCIE) Marc Wyatt will leave the agency after more than five years of service to return to the private sector.
Pete Driscoll, OCIE’s chief risk and strategy officer, succeeds Wyatt as acting director. Driscoll joined the SEC in 2001 as a staff attorney in the Division of Enforcement at the Chicago regional office and eventually went on to serve as the OCIE’s managing executive from 2013 to early 2016.
Read on to find out more about the departure.
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CFPB exploring credit implications of alternative data
Posted Date: Friday, February 24, 2017
The Consumer Financial Protection Bureau (CFPB) is looking exploring possibilities that break with tradition, which its leadership believes could increase credit access for underserved consumers throughout the country. The CFPB is seeking public feedback on potential benefits and risks they believe would be associated with alternative data. Read on to learn more about the bureau’s inquiry.
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TAILOR Act reintroduced in Senate
Posted Date: Wednesday, February 22, 2017
Multiple financial trade organizations are thrilled that Sen. Mike Rounds (R-S.D.), chairman of the Senate Banking Committee, has reintroduced a version of the Taking Account of Institutions with Low Operation Risk (TAILOR) Act. The act would require agencies to tailor regulations based on business models and risk profiles of individual financial institutions. Read on to learn more about the bill’s proposed provisions.
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SEC’s first COO steps down
Posted Date: Wednesday, February 22, 2017
The Securities and Exchange Commission (SEC) recently announced that the agency’s Chief Operating Officer (COO), and the first person to ever hold the position, Jeffery Heslop is leaving the agency after nearly seven years.
SEC Chief Financial Officer (CFO) Kenneth Johnson succeeds Heslop as acting COO. Read on to learn more details about the new hire and the role he will play with the agency.
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CFPB proposes to settle with Virginia pawnbroker
Posted Date: Tuesday, February 21, 2017
The Consumer Financial Protection Bureau (CFPB) and the Virginia Attorney General Mark Herring are proposing that a pawnbroker pay consumer relief and penalties to settle claims that it misstated charges associated with pawn loans.
Herring said there has been a rash of issues with pawnbrokers in his state. The CFPB has issued three enforcement actions involving six Virginia pawnbrokers over the past four months.
Read on to learn more about this case.
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Indecomm Global Services integrates with Ellie Mae’s Encompass
Posted Date: Tuesday, February 21, 2017
Indecomm Global Services, a provider of mortgage technology, training and outsourcing services, announced that its income calculation and analysis platform, IncomeGenius, is now available through Ellie Mae’s Encompass all-in-one mortgage management solution. Read on to learn more.
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Company fined over hedges, impeding whistleblower
Posted Date: Tuesday, February 21, 2017
The Securities and Exchange Commission (SEC) recently announced that HomeStreet Inc. will pay a hefty settlement over charges that it conducted improper hedge accounting, and subsequently impeded potential whistleblowers from coming forward to the SEC.
Read on to learn more about the circumstances of the settlement and why one of the executives for the company also was caught up in the agency’s penalties.
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ICBA informs OCC of concerns about chartering fintechs
Posted Date: Tuesday, February 21, 2017
The Independent Community Bankers of America (ICBA) recently sent a letter to Comptroller of the Currency Thomas Curry expressing the organization’s concerns about the regulator’s intention to consider establishing a new category of special purpose national bank charters for financial technology companies.
The letter states that the ICBA would oppose the issuing of any fintech charter not subject to the same supervision and regulation as a community bank, which may result in an unfair competitive advantage for such entities. Read on to learn what the letter states.
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MBA appoints Pete Carroll, Andy Crisenbery to MISMO Board of Directors
Posted Date: Monday, February 20, 2017
The Mortgage Bankers Association (MBA), parent corporation of the Mortgage Industry Standards Maintenance Organization (MISMO), appointed Pete Carroll, executive vice president at Quicken Loans, and Andy Crisenbery, senior vice president and managing director of eLending Solutions at Black Knight Financial Services, to the MISMO Board of Directors. Read on to learn more.
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EMV migration needs acceleration, payments forum says
Posted Date: Friday, February 17, 2017
The U.S. Payments Forum recently highlighted progress U.S. merchants have made in the migration to EMV chip payments, but also stressed its belief that there is an urgent need to accelerate the process for the sake of further limiting counterfeit card fraud. The U.S. Payments Forum is a cross-industry body focused on deployment of new and emerging payments technologies in the U.S. It has provided guidance for EMV implementation since the migration began in 2012. Read on to learn more about the migration to EMV technology.
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Senate confirms Mnuchin as Treasury Secretary
Posted Date: Thursday, February 16, 2017
The Senate voted 53-47 to confirm Steven Mnuchin as Treasury Secretary on Monday, succeeding attorney Jack Lew, who was appointed in 2013.
Multiple financial trade organizations commented on Mnuchin’s confirmation, with some expressing optimism regarding its implications for economic growth and others, representing smaller institutions, remaining more diplomatic in their statements.
Read on to find out more about the confirmation.
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Tarullo announces resignation from Fed board
Posted Date: Thursday, February 16, 2017
Amid a major deregulation effort by the Trump administration, the Federal Reserve Board of Governors will lose one of its top regulators on or around April 5, which is when Daniel K. Tarullo recently announced he will step down. Read on to learn more.
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IDS updates borrower data collection fields, supports MISMO v 3.4 for HMDA compliance
Posted Date: Thursday, February 16, 2017
Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it has updated its flagship mortgage doc prep platform idsDoc to include new borrower data collection fields that support compliance with the 2018 changes to Home Mortgage Disclosure Act (HMDA) reporting. Read on to learn more.
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ABA, bank sue over lowered Federal Reserve dividends
Posted Date: Thursday, February 16, 2017
The American Bankers Association (ABA) and Washington Federal, a nationally chartered bank based in Seattle, are suing the United States for breach of contract.
The dispute stems from an amendment to the Federal Reserve Act (FRA) of 1913 allowing for variable dividend rates lower than the 6 percent dividends specified in contracts agreed to by Federal Reserve member banks.
Read on to learn more about the lawsuit and the amendment that allowed for lower dividend payments to member banks.
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First American debuts Cleanfile Solutions to help lenders with collateral files
Posted Date: Wednesday, February 15, 2017
First American Mortgage Solutions, LLC, a subsidiary of First American Financial Corporation and provider of comprehensive solutions covering the entire residential loan spectrum, has introduced CleanFile Solutions to give mortgage lenders, servicers and investors complete confidence in the quality of their collateral files. Read on to learn more.
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Equator releases 2016 performance metrics
Posted Date: Wednesday, February 15, 2017
Equator, a provider of default software solutions for many of the country’s top servicers, real estate agents and vendors, has released its end-of-year performance metrics for 2016. Read on to learn more.
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Altisource continues client base expansion, product line enhancements
Posted Date: Tuesday, February 14, 2017
Altisource Portfolio Solutions S.A. (“Altisource”), a provider of real estate, mortgage and technology services, recently announced a specialized Federal Housing Authority (FHA) offering, taking advantage of its end-to-end product suite to assist in improving controls and mitigating risk throughout the lifecycle of servicing an FHA asset. Read on to learn more.
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Letter blasts Federal Reserve over foreign negotiations
Posted Date: Tuesday, February 14, 2017
In a letter criticizing the Federal Reserve’s continued involvement in international forums on financial regulation, Rep. Patrick McHenry (R-N.C.) told Fed Chairman Janet Yellen that the agency should cease all negotiations with foreign countries until President Donald Trump has appointed “officials that prioritize America’s best interests.”
A look back at some official comments by Fed members, such as Vice Chairman Stanley Fischer, in recent months indicates that there could be ideological common ground between the Fed and those proposing policy divergence between the U.S. and foreign entities. Read on to find out more.
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CFPB fines UniRush, MasterCard
Posted Date: Tuesday, February 14, 2017
The Consumer Financial Protection Bureau (CFPB) has taken action against UniRush and MasterCard after technology breakdowns prevented prepaid card users from accessing funds from their accounts. The issues began during a rocky transition of UniRush’s payment processing services MasterCard. Read on to find out details about the bureau’s joint enforcement action against the two companies.
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Wipro Gallagher Solutions integrates Uniform Closing Dataset into NetOxygen
Posted Date: Monday, February 13, 2017
Wipro Gallagher Solutions (WGS), a Wipro Limited company, has announced that its NetOxygen Loan Origination System (LOS) has been directly integrated with Government Sponsored Enterprise (GSE) tools to ensure full compliance with the Uniform Closing Dataset (UCD) in the United States. Read on to learn more.
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Trump sued over ‘1-in, 2-out’ order
Posted Date: Friday, February 10, 2017
A lawsuit filed against President Donald Trump and his administration asserts that Trump’s Jan. 30 executive order, mandating that agencies repeal two existing regulations for every new one adopted, violates the president’s authority and undermines the statutory authority of government agencies.
The complaint filed in district court claims that the order violates the Administrative Procedures Act and the Constitution’s “Take Care Clause.”
Read on to find out more about the lawsuit and the organizations which filed it.
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CFPB alleges firm scammed 9/11 ‘heroes with cancer’
Posted Date: Friday, February 10, 2017
Alleging they conned 9/11 first responders and former National Football League (NFL) players who’d suffered concussions out of millions of dollars, the Consumer Financial Protection Bureau and the New York Attorney General jointly filed a lawsuit against multiple companies and their owner.
The complaint asserts various UDAAP violations, as well as violations of New York state law. Read on to learn specifics about who the victims were and what the charges are against the defendants.
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ICBA names Taunja Moe as director of product and training Development
Posted Date: Thursday, February 9, 2017
The Independent Community Bankers of America (ICBA) has announced that Taunja Moe has joined the association as director, product & training development for Community Banker University. Moe will be responsible for overall product maintenance, development and management for Community Banker University. Read on to learn more.
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Evergreen Home Loans to implement Black Knight's LoanSphere MSP system
Posted Date: Wednesday, February 8, 2017
Black Knight Financial Services, Inc., a provider of integrated technology, data and analytics to the mortgage and real estate industries, has announced that Evergreen Home Loans has signed a contract for LoanSphere MSP. Read on to learn more.
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Mortech announces real-time pricing integration with Resitrader
Posted Date: Wednesday, February 8, 2017
Mortech, a Zillow Group business providing mortgage technology solutions for mortgage bankers and secondary market teams, recently announced a new integration between the Mortech product and pricing engine (PPE) and Resitrader, a Calabasas, Calif.-based provider of whole loan mortgage trade management software. Read on to learn more.
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CFPB fines companies over kickbacks, RESPA
Posted Date: Tuesday, February 7, 2017
The Consumer Financial Protection Bureau (CFPB) recently took action against Prospect Mortgage, LLC, for paying kickbacks for mortgage business referrals, as well as three companies that accepted such kickbacks from Prospect.
The bureau issued consent orders against all of the companies for violations of the Real Estate Settlement Procedures Act and ordered them to pay civil penalties and other forms of redress. Read on to find out more details from the orders.
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NCUA to follow regulatory freeze
Posted Date: Tuesday, February 7, 2017
Although it is an independent government agency and therefore not required to follow executive orders, the National Credit Union Administration (NCUA) has decided to voluntarily abide by the regulatory freeze ordered by President Donald Trump during his first week in office.
Read on to see which NCUA rules yet to become effective will be delayed by the freeze, and what the agency has to say about the decision.
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Trump orders review of Dodd-Frank
Posted Date: Tuesday, February 7, 2017
President Donald Trump issued an executive order Feb. 3 directing the Secretary of the Treasury to consult with the heads of member agencies of the Financial Stability Oversight Council to overview the Dodd-Frank Act, and propose ways of reducing its regulatory impact on the economy.
Multiple trade organizations expressed support for the idea of looking for ways of bringing about regulatory relief, although the concept of replacing Dodd-Frank entirely seems far-fetched, at least according to one organization leader. Read on to find out details about the order and what trade leaders have to say about it.
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Trump memo puts future of fiduciary rule in doubt
Posted Date: Tuesday, February 7, 2017
President Donald Trump signed a presidential memo putting in doubt the future of the Department of Labor’s (DOL) rule intended to address conflicts of interest in retirement advice, also known as the “fiduciary rule,” for further review by the DOL.
Multiple trade organizations weighed in on the president’s decision and their thoughts on the rule. Read on to find out what they had to say.
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Senate votes to repeal SEC rules under CRA
Posted Date: Tuesday, February 7, 2017
A motion to repeal the Securities and Exchange Commission’s (SEC) rules requiring commercial developers of oil, natural gas and minerals to disclose any payments made to U.S. or foreign governments passed in the Senate via the Congressional Review Act (CRA) on Feb. 3.
The White House recently issued a statement of administrative policy regarding its stance on the SEC rules, as well as along with four other, unrelated rules under congressional review. Read on for more information.
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Trump names new FTC acting chairman
Posted Date: Monday, February 6, 2017
President Donald Trump recently issued an order appointing Maureen Ohlhausen as acting chairman of the Federal Trade Commission (FTC). Ohlhausen has held several administrative and advisory roles during her time with the FTC. Read on to learn more about her credentials.
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CFPB sues law firms over debt-relief fees
Posted Date: Friday, February 3, 2017
The Consumer Financial Protection Bureau (CFPB) recently sued a ring of law firms and attorneys for charging consumers fees for debt relief services, in violation of the Telemarketing Sales Rule. One of the defendants named in the lawsuit previously received a court sanction and CFPB enforcement action for the same conduct. Read on to find out more.
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ABA endorses student loan repayment by Gradifi
Posted Date: Wednesday, February 1, 2017
The American Bankers Association (ABA) – through its subsidiary, the Corporation for American Banking – has endorsed the student loan repayment benefit offered by Gradifi, a Boston-based student loan pay down provider. Read on to learn more.
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PCLender integrates with Blend
Posted Date: Wednesday, February 1, 2017
PCLender, a provider of internet-based mortgage solutions for community banks and credit unions, recently announced an enhanced integration with Blend, a Silicon Valley technology company with a focus on the mortgage industry. Read on to learn more.
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House, Senate committees finalize members
Posted Date: Tuesday, January 31, 2017
The Senate Banking and House Financial Services Committees recently finalized their memberships, determining which legislators will oversee the various components of the country’s housing and financial services sectors in the 115th Congress. Find out which newly appointed committee members could be particularly important to keep an eye on regarding financial regulation going forward.
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