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The one-notch downgrade, announced Wednesday, came in response to the Fed's unprecedented decision to halt asset growth at the embattled bank.
February 7
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After facing a landmark sexual harassment lawsuit in the mid-1990s, the banking industry has improved its codes of conduct and training on sexual harassment issues, CIT Chief Executive Ellen Alemany said during a panel discussion Wednesday morning.
February 7
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Treasury Secretary Steven Mnuchin said the Financial Stability Oversight Council will propose SIFI criteria before executing changes, and provided comments about the Volcker Rule, Orderly Liquidation Authority and housing finance.
February 6
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Comptroller of the Currency Joseph Otting met Tuesday with acting CFPB Director Mick Mulvaney to discuss ways to reduce regulatory burden and coordinate supervision of financial firms.
February 6
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The Federal Reserve’s order restricting Wells Fargo puts other bank boards on notice that they could be singled out for failure to perform, but also makes it easier for them to avoid that fate.
February 6
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Former Minnesota Gov. Tim Pawlenty said Tuesday he is resigning as CEO of the Financial Services Roundtable as speculation grows that he plans to run for governor again.
February 6
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The heads of the Securities and Exchange and Commodity Futures Trading commissions said they are not ignoring the fast-growing cryptocurrency sector and they have some oversight powers. But they indicated that they might need more.
February 6
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The move is mainly in response to fintech firms that have long argued that the main route to doing business is by getting a license in each state, which can be a cumbersome and repetitive process.
February 6
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It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.
February 5
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If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.
February 5
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Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.
February 5
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Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.
February 5
U.S. Congress -
The Federal Reserve on Friday slapped Wells Fargo with one of the harshest orders it has ever handed down, but the message it sent went far beyond a single institution.
February 2
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The quick fall of AriseBank, a would-be blockchain bank; a CFPB buffeted by court rulings and policy shifts; U.S. Bancorp's Super Bowl play; and more.
February 2
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In his decision Thursday, U.S. District Judge Paul Gardephe said the lawsuit brought by the Lower East Side People's Federal Credit Union lacked standing.
February 2
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Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring.
February 2
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Housing finance reformers are pushing full steam ahead to get a bill introduced before the political calendar makes passage nearly impossible.
February 2
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Federal Reserve Chair Janet Yellen, whose term expires Saturday, will join the Brookings Institution on Monday, the Washington-based think tank said.
February 2
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Her career at the Federal Reserve is one of remarkable accomplishments, but time will tell how her tenure ultimately is remembered in terms of her impact on bank regulation and stewardship of the economy.
February 2
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Readers react to a clash between Mick Mulvaney and Richard Cordray, opine on how quickly Congress can move financial services legislation, slam calls for increased bank consolidation and more.
February 1
