While expressing support for fair lending laws and regulations, ABA and the state bankers associations yesterday raised concerns about the CFPB’s long-awaited proposed rule to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for small businesses, including women-owned and minority-owned small businesses.
The FDIC board yesterday determined that no changes will be made to the definition of “qualified residential mortgage” and related provisions of the credit risk retention rule, as recommended by ABA and other financial trade groups.
The Consumer Financial Protection Bureau on Friday announced updates to its rulemaking agenda for fall…
The American Bankers Association led a broad coalition of financial trade groups in a letter to CFPB Director Rohit Chopra yesterday requesting a 45-day extension for comments on the bureau’s Dodd-Frank Section 1071 proposal.
In his first appearance before the House Financial Services Committee today, CFPB Director Rohit Chopra told lawmakers that although he agreed with Acting Director David Uejio’s decision to rescind a policy statement on “abusive” conduct issued by former Director Kathy Kraninger, he has “huge aspirations to create durable jurisprudence” regarding the definition of “abusive” in the Dodd-Frank Act.
The Securities and Exchange Commission today said it would reopen the comment period on a previously issued proposal to implement Section 954 of the Dodd-Frank Act, which relates to listing standards for the recovery or “clawback” of erroneously awarded compensation.
President Biden today issued a wide-ranging executive order on competition issues across the U.S. economy.
Acting Consumer Financial Protection Bureau Director Dave Uejio today signaled that the bureau may move to reconsider recent final rulemakings on Qualified Mortgages and debt collection.
The OCC announced today that it will pause the publication of a controversial final rule stating that banks should provide access to services, capital and credit based on their risk assessment of individual customers and not make broad-based decisions that affect whole categories or classes of customers.
The OCC today finalized a controversial proposal stating that banks should provide access to services, capital and credit based on their risk assessment of individual customers and not make broad-based decisions that affect whole categories or classes of customers.