Financial regulations

More than 10 months into office, the Trump administration’s takeover of banking regulators is effectively complete.

Acting CFPB Director Mick Mulvaney backed a congressional effort to overturn the agency's short-term lending rule, said he planned to install more political appointees and acknowledged a possible prank played on him.

On his last day at the agency, Keith Noreika called for scaling back the Bank Holding Company Act, arguing that it burdens banks with duplicative regulation and restricts their economic potential.

The former bank CEO is widely expected to continue the recent push to implement a more industry-friendly agenda.

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.

Beyond overall tax cuts, there's also potential benefits for investors in fintech and payments innovation, writes Rick Lazio, former Republican Representative from New York and current senior vice president at alliantgroup.

An OCC official said Friday that a change in tone in Washington means banks can expect a softening of regulations soon.

The approved budget is largely unchanged from the plan released during the public briefing last month.

Jerome Powell has been in the public eye for decades. But what he would actually do with the job is unknown. American Banker reporter John Heltman explains.

Company’s first earnings report since the data breach also discloses lots of suits and investigations; Senate bill also calls for one-year delay in corporate tax rate cut to 20%.

If CFPB Director Richard Cordray does not leave soon — as has been widely expected — it may be that he has used rumors of his possible political aspirations to successfully keep Trump from firing him.

Four Democrats on the Senate Banking Committee pledged to vote against the confirmation of Joseph Otting as comptroller of the currency.

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.

The Fed’s new chief bank regulator wants to change “the tenor of supervision”; Ron O’Hanley, who was named president this week, will also take over as CEO by the end of 2018.

The companies' recently launched partnership furthers the argument that the banking and fintech industries might be better served working together rather than competing.

CFPB Director Richard Cordray sent a letter to President Trump Monday asking him to veto a Republican resolution to nullify the bureau's arbitration rule.

The regulator is moving forward with a plan aimed at making it easier for credit unions to challenge supervisory decisions.

Credit union representatives on Wednesday praised the regulator for its newfound willingness to hear their concerns on the budget, but emphasized that 10 years of budget increases – during which time the number of CUs has shrunk by a quarter – is enough.

The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said.

St. Louis Fed President James Bullard explains why community banks feel they were hit with unduly tough regulations after the financial crisis.