PayThink

Similar to the changes already enacted in the mortgage industry, the Consumer Financial Protection Bureau is pushing policymakers for an overhaul of the disclosure requirements and modifications programs of private student loan servicers.

Even if these loans did harm consumers – doubtful as they were freely entered into – the harm would appear quite minor compared to that which has been repeatedly imposed upon the U.S. Native American population.

Where possible, regulators should avoid establishing static, prescriptive criteria that do not give lenders the ability to consider compensating factors in meeting the financing needs of qualified borrowers.

Fed watchers are sharply divided over whether Yellen will rely on Tarullo to set banking policy for the central bank or if she will marginalize him. But there's a bigger question that matters more.

An executive order in February called cyberthreats one of the most serious national security challenges our nation faces. Too bad most cybersecurity personnel were furloughed as part of the shutdown.

If the states are determined to reform force-placed insurance and the CFPB is determined to reform add-on products, they should propose rules and subject them to meaningful public notice and comment periods.

Sen. Heidi Heitkamp believes the financial industry "isn't just about numbers," and is concerned that the regulations coming out of the 2010 Dodd-Frank Act do not "take into consideration long-term relationship banking."

The Consumer Financial Protection Bureau is planning a major facelift to its exam procedures. These changes will be designed to make the exam process faster and free up enforcement personnel to pursue their own investigations outside of the regular exams.

Acquisitive banks have frequently used the "accretive to earnings" pabulum to sway shareholders and justify overpriced transactions. This has created an illusion of acquisition value that is detrimental to the market.

In an effort to ease servicers' concerns about communicating with struggling or bankrupt borrowers who invoke certain legal protections, the Consumer Financial Protection Bureau released clarifications to its mortgage servicing rules.