Law and regulation

Credit unions are still learning how to make the most of the agency’s modernization of the field of membership regulations. Here’s what you need to know.

When the acting director of the Consumer Financial Protection Bureau announced plans to bring aboard political appointees, many viewed it as antithetical to an independent regulator. But technically there is nothing stopping him.

A measure passed by the city council, which still needs final approval, would require banks that want city contracts to disclose whether they set individual or branch-level sales requirements. It comes in response to the Wells Fargo fake account scandal.

The Community Home Lenders Association wants Mick Mulvaney, the acting director of the CFPB, to delay implementation of the Home Mortgage Disclosure Act that goes into effect on Jan. 1.

Past statements by Office of Management and Budget Director Mick Mulvaney about the Consumer Financial Protection Bureau should disqualify him from leading the agency, according to New York Attorney General Eric T. Schneiderman and 16 other state AGs.

Over 30 current and former Democratic lawmakers filed a new amicus brief Monday supporting Consumer Financial Protection Bureau Deputy Director Leandra English to be reinstated as acting director of the agency.

The president's vow to come down hard on the San Francisco bank fans a debate about the independence of regulatory agencies such as the CFPB.

The short-term loan industry is suddenly playing offense in Washington following Mick Mulvaney's appointment as acting head of the Consumer Financial Protection Bureau.

The president wrote Friday on Twitter that penalties against the San Francisco bank will be maintained, or possibly strengthened. The comments are likely to fuel a growing controversy about the independence of federal financial regulators.

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators.

The 2018 gubernatorial race will be watched closely both by bankers and consumer advocates to see whether Cordray's leadership of the Consumer Financial Protection Bureau becomes a campaign asset or a liability.

The nomination of Jelena McWilliams to chair the Federal Deposit Insurance Corp. moves the Trump administration one step closer to completing its team of regulatory appointments in its push to undo former President Obama's post-crisis policies.

Rep. Sean Duffy, R-Wis., and Sen. Mike Enzi, R-Wyo., drafted legislation that would set pay for CFPB employees in line with the federal government's pay scale known as the general schedule.

Brian Montgomery seems on his way to being confirmed to lead the Federal Housing Administration. But once he gets there, he may find it difficult to be as innovative as he was during his first stint as commissioner — particularly when it comes to reducing FHA premiums.

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.

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.

The Senate Banking Committee voted to advance the nomination of Brian Montgomery to serve as commissioner of the Federal Housing Administration, despite ongoing criticism from some Democrats that he is too close to the financial services industry.

The former OCC head and Massachusetts banking commissioner will co-lead Nutter's financial services practice.

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.

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