CFPB to Assess Effectiveness of Qualified Mortgage Rule
The Consumer Financial Protection Bureau today released a plan to assess the effectiveness of its final Ability-to-Repay/Qualified Mortgage rule.
The Consumer Financial Protection Bureau today released a plan to assess the effectiveness of its final Ability-to-Repay/Qualified Mortgage rule.
ABA and Washington Federal on Wednesday filed a motion for summary judgment in their class action lawsuit seeking over $1.1 billion in damages resulting from the United States’ improper reduction in dividends paid to Federal Reserve member banks.
House Republican leadership is expected to remove a provision repealing the Durbin Amendment from House Financial Services Committtee Chairman Jeb Hensarling’s Financial Choice Act before it receives a vote on the House floor, according to news reports last night.
Loan growth slowed across all major lending categories in the first quarter, according to the FDIC’s Quarterly Banking Profile released today.
As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA submitted two white papers to the Treasury Department today with recommendations for reforming current mortgage lending rules and regulations and the government-sponsored enterprises Fannie Mae and Freddie Mac.
Labor Secretary Alexander Acosta today announced that the Department of Labor will not delay the June 9 effective date for the fiduciary rule, which greatly expanded the definition of who counts as a “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.
A Morning Consult poll of voters in eight key battleground states found that a majority would support structural changes to the Consumer Financial Protection Bureau.
Highlighting the critical role the nation’s 1,912 farm banks play in financing the operations of America’s farmers and ranchers, ABA called for changes in the upcoming Farm Bill to the USDA Guaranteed Farm Loan Program in a written statement for the record of a House Agriculture Committee hearing yesterday.
Testifying before the Senate Banking Committee today, Treasury Secretary Steven Mnuchin said he is hoping to collaborate with senators on financial regulatory relief and housing finance reform.
Eight financial trade associations — including ABA — wrote to members of Congress today opposing the Border Wall Funding Act of 2017 (H.R. 1813), a bill that would impose a 2 percent fee on remittance transfers to certain countries.