Legal

Fed Makes Annual Adjustment to Asset Threshold for Dividend Cut

The Federal Reserve today made an annual inflation adjustment to the asset threshold in Regulation I that determines the dividend rate that certain member banks earn on Federal Reserve Bank stock, as required by the 2015 transportation spending bill. The threshold for 2017 is now set at $10.122 billion in assets.

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Full Circuit Court to Hear Appeal of CFPB Structure Case

The full D.C. Circuit Court of Appeals today agreed to hear the appeal in PHH Mortgage v. Consumer Financial Protection Bureau, a closely watched case over whether the CFPB’s leadership structure -- a single powerful director who cannot be removed at will by the president -- is constitutional.

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Legal Briefs: The Great Credit Union Capers

By Dawn Causey, Thomas Pinder and Andrew Doersam There they go again! 
In the famous words of former President Reagan, the National Credit Union Administration is once again reprising its cheerleading role for the credit union industry and ignoring the tenets of the Federal Credit Union Act that justify the credit union tax exemption. And, once again, ABA has filed ...

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Reports: Trump Signals Intention to Remove Cordray

A spokesman for President-Elect Donald Trump said yesterday that Trump has interviewed former Rep. Randy Neugebauer (R-Texas) for the post of Consumer Financial Protection Bureau director -- indicating that Trump may be considering removing current director Richard Cordray from his post before his term expires in 2018.

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House Dems to Trump: Don’t Fire Cordray

A day after two Republican senators petitioned President-Elect Trump to dismiss Consumer Financial Protection Bureau Director Richard Cordray after taking office, several House Democrats wrote to the president-elect opposing such a move.

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