Dodd-Frank

The JPMorgan Chase CEO supports easing regulations on mortgage lending but says other major provisions of Dodd-Frank should remain intact.

The low-income CU argues that Mulvaney’s installment as acting director violates the Constitution

The Senate Banking Committee's passage of a regulatory relief bill is fueling optimism about its advancement, but it still must clear a series of legislative hurdles before becoming law.

The ill will between Democrats and Republicans in the controversy over appointing an acting Consumer Financial Protection Bureau chief adds a new wrinkle to bipartisan efforts to pass regulatory relief.

The former heads of the House and Senate banking committees argued Thursday that the Dodd-Frank Act clearly intended to allow the CFPB's deputy director to serve as acting director after the full-time head of the agency departed.

Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.

District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.

Employees at the Consumer Financial Protection Bureau are privately questioning why outgoing director Richard Cordray abruptly tapped a 34-year-old chief of staff with no enforcement, supervisory or legal experience to head the embattled agency after he resigned.

In his nomination hearing, Jerome Powell was quick to assure Republican senators of his regulatory relief credentials. But Democrats still fear that he and other Trump appointees might upend the Dodd-Frank Act.

OMB Director Mick Mulvaney said he would "fix" the CFPB by ensuring it protected consumers without cutting off access to financial services. His comments came as a federal judge declined to rule yet on the legality of Mulvaney's appointment.

Both Mick Mulvaney and Leandra English showed up to lead the agency this morning, but credit union trade associations have only addressed Trump’s appointee.

Leadership at the Consumer Financial Protection Bureau is expected to be resolved quickly after a federal court Monday assigned a judge appointed by President Trump to resolve a lawsuit over who will become the agency's acting director.

The Trump administration insisted Saturday that OMB Director Mick Mulvaney was the rightful interim leader of the CFPB, but Democrats said that the appointment was illegal. It remains unclear who is legally in charge.

The outcome of a case testing the president's power to fire a CFPB director will come too late to impact Richard Cordray, but may affect President Trump's interim and final picks to lead the agency.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg raised concerns about provisions that would significantly increase the systemic risk threshold for large banks, as well as one that would change the calculation for the supplementary leverage ratio.

Zions Bancorp. appears to have found a novel approach to escape the added requirements for banks above the Dodd-Frank Act's systemic $50 billion asset threshold, but other banks in a similar position are more likely to wait for Congress to address the issue rather than following suit.

Credit unions and the Consumer Financial Protection Bureau share a similar philosophy, but their methods often clashed during Cordray's tenure. Here's a look at reactions to his departure and speculation on how he might be remembered.

Freeing a number of big banks from enhanced oversight, including capital requirements, could motivate CEOs to pursue deals. Still, other impediments could prevent a flood of large mergers.

The regulatory relief bill would raise the SIFI threshold to $250 billion of assets and allow mortgages held in portfolio to be counted as "qualified," among other items, but it is far less sweeping than institutions had hoped.

Pat Hickman, CEO of Happy State Bank, wants his institution to remain viable in the face of stifling regulation. As for selling? That'll happen over his dead body, he says.