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Trump officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest easier is an open question.
November 10 -
Letters from CUNA and NAFCU say credit unions are facing significant litigation threat from frivolous suits.
November 10 -
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%.
November 10 -
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.
November 9 -
Four Democrats on the Senate Banking Committee pledged to vote against the confirmation of Joseph Otting as comptroller of the currency.
November 9 -
The authority of the Financial Stability Oversight Council to label a firm a “systemically important financial institution” triggers duplicative regulation even if banklike rules are not appropriate to the company.
November 9
Johnson Smick International Inc. -
Democrats' victories in Virginia and New Jersey fueled speculation that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other priorities for banks and credit unions.
November 9 -
Barros has no answer for Senate committee on encryption; a bitcoin network split won’t happen … for now.
November 9 -
Democrats' recent electoral victories signal that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other bank priorities.
November 8 -
The Consumer Financial Protection Bureau filed a lawsuit Wednesday against Freedom Debt Relief and its co-CEO for allegedly deceiving consumers.
November 8 -
The Treasury Department on Wednesday named Kenneth A. Blanco, a longtime criminal prosecutor with the Justice Department, the director of the Financial Crimes Enforcement Network.
November 8 -
Bank lobbyists are increasingly worried that the Senate Republicans may go further than the House in taxing large financial institutions as part of their reform push.
November 8 -
Acting Comptroller of the Currency Keith Noreika said he thinks regulators can make a case for an exemption to carve out all small banks from the ban on proprietary trading.
November 8 -
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.
November 8 -
Acting Comptroller of the Currency Keith Noreika called for reopening the debate over the barrier between banking and commerce, saying there is evidence removing it could benefit small banks.
November 8 -
The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach.
November 7 -
The new vice chairman of supervision at the Fed said the agency will seek comment on its rules for stress tests, capital and other areas, as well as look at how fintech has impacted the industry.
November 7 -
New York Fed chief cautions against taking “meat cleaver” to Dodd-Frank; Stephanie Cohen, one of the highest-ranking women at the bank, will try finding new sources of revenue.
November 7 -
Cordray is still keeping everyone guessing about whether he is staying or running for governor of Ohio. And Republicans could weaken the agency by putting one of their own in charge and rolling back many of the rules it’s set.
November 7 -
The HUD secretary’s comment that such use of the False Claims Act was “ridiculous” may delight the mortgage industry but does not bode well for taxpayers or the federal government’s future fraud enforcement efforts.
November 6
Phillips & Cohen LLP





















