Financial regulations

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.

Readers weigh in on the possibility of Mick Mulvaney becoming the White House chief of staff, debate whether the industry needs more or less consolidation, chime in on Wells Fargo’s updated mobile app and more.

Amid all the complaining about increased regulation, and the need to maintain higher capital levels, bankers are failing to realize that there is also a significant opportunity: Those that develop operational excellence at deploying capital can set themselves apart from peers.

The company must develop and implement a system of internal controls to ensure full Bank Secrecy Act and anti-money-laundering compliance.

A Georgia Supreme Court case sheds light on the lengths that the often assailed industry has gone to shape policy outcomes. It also raises the question of whether, in evaluating industry-funded research, it is enough to assess the published study itself, or if it is necessary to dig deeper.

The state's banking regulator, Maria Vullo, said in a legal filing that the Tokyo lender's request last year to shift regulators — trading its state license for a federal one — was granted arbitrarily and unlawfully.

The South Asian nation’s income tax officials had started investigations into transactions at various illegal bitcoin exchanges in December, soon after the country’s central bank cautioned users about potential risks.

Top Democrats in the House and Senate sent a letter to Mick Mulvaney on Wednesday questioning his decision to delay the implementation of the Consumer Financial Protection Bureau’s payday loan rule.

Most general counsels are men, but in 2017 women filled more than half of the top legal positions that opened up at large financial firms. The trend is likely to continue as the population of women lawyers swells and banks continue to diversify their senior ranks.

The rapid development of the Indian mobile wallet market demonstrates the importance of reactivity and adaptability. Huge opportunities await those who can successfully navigate the transformative impact of regulation, emerging technologies and shifting consumer expectations, writes Elina Mattila, executive director of the Mobey Forum.

In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.

"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.