Policy & Regulation

The agency would be subject to congressional and White House oversight; American customers will be able to send money to 200 countries.

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.

As part of a larger regulatory relief effort, regulators have raised the dollar-amount threshold for commercial real estate transactions that require a formal appraisal.

Washington Federal, which is working through Bank Secrecy Act issues, also allowed Anchor to consider offers from other potential buyers.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress.

On quarterly earnings calls set to begin next week, investors will be listening closely to CEO comments for any hints of how banks might deploy excess capital if they are no longer deemed systemically important.

The annual progress report on the Fannie Mae and Freddie Mac conservatorships reiterated that a new credit score model will likely not be operational until after the implementation of a new Single Security Initiative.

A BankThink argues that Treasury's GSE cash infusions are just the return of stolen money; MUFG wants its Union Bank to be one of the nation's 10 largest; fintech promises a 30-minute mortgage; and more.

The announcement comes after a Federal Reserve Board task force issued a report in September that said it would further examine options for modernizing the U.S. payments system.

Renasant is requiring Brand Group to sell $55 million in classified loans before closing the deal, while attaching an incentive for the seller to get as much as possible for those sales.