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Regulation and compliance

federal-reserve-bank

Fed officially nixes reputation risk from exam practices

Politics and policy, Regulation and compliance, Risk management /

Bloomberg News The Federal Reserve has officially started scrubbing “reputational risk” from its supervisory policies and practices.  The central bank announced Monday that it is removing all mentions of reputation and reputational risk from its exam manuals and supervisory materials. In some cases, the agency is replacing those references with discussions of specific financial risks. […]

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Michelle Bowman

Fed’s Bowman makes case for leverage ratio reform

Minimum capital requirements, Politics and policy, Regulation and compliance, Treasurys /

Federal Reserve Vice Chair for Supervision Michelle Bowman.Bloomberg News The Federal Reserve’s top regulator said changes are needed to the supplementary leverage ratio to improve the Treasury market and ensure banks face proper risk incentives.  In a Monday speech, Fed Vice Chair for Supervision Michelle Bowman said the current calibration of the capital requirement is

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Donald Trump

Trump signs nullification of OCC bank merger guidelines

M&A, Politics and policy, Regulation and compliance, Trump administration /

Bloomberg News WASHINGTON — President Donald Trump on Friday evening signed a rule that officially eliminates the Office of the Comptroller of the Currency’s stricter reviews of certain bank mergers.  Trump signed the Congressional Review Act resolution Friday nullifying the Office of the Comptroller of the Currency’s Biden-era rule that got rid of an expedited

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Mortgage pros share tips for riding out volatility

Capital markets, Mortgage Rates, Originations, Politics and policy, Regulation and compliance, Risk management /

Short-term market swings are nothing new but the kind of volatility mortgage lenders are dealing with today is driven less by predictable economic indicators and more by geopolitical tensions, trade policy shifts, and global headlines. While volatility has ticked up, it’s not at historic extremes. The CBOE Volatility Index, which measures stress in financial markets,

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Top Treasury official wants to ‘Americanize’ any Basel rule

Politics and policy, Regulation and compliance, Treasury Department /

Stefani Reynolds/Bloomberg The Treasury Department is working with the bank regulators to finish the U.S.’s Basel committee-pursuant capital standards with an eye to clearing obstacles for American firms and “harmonizing” regulation of the financial system, the deputy secretary said Friday. Michael Faulkender said parts of the capital framework issued by the Basel committee would be

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CFPB servicing rule change raises alarm for bankers

CFPB News & Analysis, Regulation and compliance, Servicing /

The American Bankers Association voiced its concerns over a proposed Consumer Financial Protection Bureau final rule to eliminate a pandemic-era policy affecting loss-mitigation procedures that brought flexibility to servicers.  While stating its support to the easing of some regulations proposed since the beginning of the second Trump term, the ABA urged the bureau to retain

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DOJ quietly axes more redlining settlements with lenders

Law and legal issues, Racial bias, Redlining, Regulation and compliance /

The Trump administration is moving swiftly to roll back Biden-era redlining enforcement. Federal courts in recent weeks have terminated five consent orders with mortgage lenders, which stemmed from redlining probes by the prior administration. The Department of Justice claimed those companies satisfied the terms of their settlements months and years before their expiration, freeing them

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Trigger leads bill passes in Senate

Law and legal issues, Marketing, Politics and policy, Regulation and compliance, Underwriting /

The Senate on Thursday unanimously passed bipartisan legislation to rein in trigger leads. That follows the House Financial Services Committee’s unanimous approval of  the Homebuyers Privacy Protection Act, an amendment to the Fair Credit Reporting Act, earlier in the week. The mortgage industry now awaits as lawmakers work to reconcile minor differences between the House

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CFPB logo

Judge rejects CFPB motion to undo redlining settlement

Litigation, Politics and policy, Redlining, Regulation and compliance /

Bloomberg News A federal judge rejected the Trump administration’s effort to undo a redlining settlement between the Consumer Financial Protection Bureau and a Chicago mortgage lender whose CEO made comments on a talk-radio show that the agency had alleged discouraged potential Black homebuyers from applying for home loans. On Thursday, District Court Judge Franklin U.

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Trump sworn in

CFPB lawsuit hinges on Trump’s ‘faithful’ execution of laws

Litigation, Politics and policy, Regulation and compliance /

Bloomberg News President Trump’s efforts to unilaterally and radically reduce the workforce at the Consumer Financial Protection Bureau is teeing up a rarely-considered constitutional question: if Congress makes the laws and the president enforces them, can the courts intervene if they think those laws are not being enforced “faithfully?” Appellate judges overseeing the ongoing legal

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