Joe Rubin is the senior vice president of government relations and public affairs at MWWPR, an international public relations firm. The views expressed are solely his, and do not reflect the views of MWWPR or its clients.
Financial institutions had used existing banking laws as a shield against broader privacy protections, but a California law enacted this summer could threaten that strategy.
Institutions that have been opening consumer accounts without consent need to prepare for the fallout, even if the OCC has said it won't name names.
Institutions that have been opening consumer accounts without consent need to prepare for the fallout, even if the OCC has said it won't name names.
Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.
Neglecting to appoint a full-time director could shortchange efforts to improve the bureau’s transparency and undertake other needed reforms.
With the new administration and eventual new leadership of the regulatory agencies, banks’ calculus that agreeing to consent orders is usually the right course is potentially changing.
Republican lawmakers and Trump administration officials oppose the Consumer Financial Protection Bureau, but efforts to beat back CFPB policies might be a longer fight than many in the industry would like.
A new director of the consumer bureau must focus on how a still-relatively-young agency matures while maintaining a positive consumer protection agenda.
A new director of the consumer bureau must focus on how a still-relatively-young agency matures while maintaining a positive consumer protection agenda.
Regulators focus on having banks and credit unions offer payday loan alternatives to underserved consumers overlooks the success of Web-based companies in filling credit gaps.