Financial regulations

In an interview with American Banker, the outgoing president of the Federal Reserve Bank of New York discussed changes in supervision, bank culture and his advice to his successor.

Congress has left Washington for a two-week recess, and credit union leaders are being urged to make their case for reg relief while legislators are back at home.

San Francisco Fed chief is reportedly leading candidate to replace Dudley in New York; four senior officers to retire as OCC readies penalties against the bank.

The congressional resolution to overturn the payday regulation comes as acting CFPB Director Mick Mulvaney has already said the agency will reconsider the rule internally.

The information collection effort is consistent with acting CFPB Director Mick Mulvaney's efforts to set the agency on a more pro-industry, anti-enforcement course.

Rebeca Romero Rainey, while known as compassionate banker and less of a firebrand than her predecessor at the trade group, will take firm stands for small banks on reg relief, innovation and fair play, say those who know her.

The legislation, signed Monday by Gov. Rick Scott, authorizes 60- to 90-day loans of up to $1,000. It makes Florida the first state to pass a law designed to blunt the impact of the CFPB’s payday lending rule.

The agency's decision to lift a 2002 consent order against Ace Cash Express could lead to a revival of partnerships between national banks and payday lenders.

Credit unions will be watching as the Senate's regulatory relief bill heads to the House, but government spending and interest rates may delay that process by several weeks.

Goldman Sachs Group Inc. pays women in the U.K. an average of 56% less than male colleagues, another stark example of the entrenched gender imbalances in the richest corners of the global economy.

The Consumer Financial Protection Bureau's “Project Catalyst,” launched six years ago to help fintech companies navigate regulations, has failed to deliver.

Readers opine on the prospect of regulatory relief, weigh in on the need for regulators to become more tech savvy, react to HSBC hopping back into U.S. mortgage lending and more.

With substantial regulatory relief within reach, community bankers should use their clout to shape cybersecurity policy and ensure a level playing field for banks and nonbanks, retiring ICBA chief Cam Fine says.

The request for feedback on adopted regulations is the eighth out of a dozen such requests that acting CFPB Director Mick Mulvaney has initiated so far as part of a public review of all the agency's processes.

Timothy Zimmerman is optimistic about regulatory relief and the capabilities of the association's next CEO, but he remains wary of nonbank competition and cybersecurity risk.

Policymakers need to focus less on how they regulate the banking industry’s cyber defenses and more on how they will protect the financial system from an attack.

The resignation of National Economic Council Director Gary Cohn costs financial institutions a top ally in the Trump administration and could potentially further slow agency appointments -- including the two open spots on the NCUA board.

The Consumer Financial Protection Bureau issued a request for information Wednesday about certain "discretionary aspects" of the bureau’s rulemaking processes that are not already required by law.

The resignation of National Economic Council Director Gary Cohn costs banks a top ally in the Trump administration and will likely further slow agency appointments.

The Consumer Financial Protection Bureau is seeking comment on how to engage the public in field hearings and town hall meetings as part of a broad review of all of the bureau's processes.