Policy & Regulation

WASHINGTON — The Consumer Financial Protection Bureau has agreed to ramp up its security policies on data collection in response to a recent Government Accountability Office report that raised nearly a dozen recommendations on the topic.

In a speech Tuesday, U.S. Bank Chief Executive Officer Richard Davis also offered mostly upbeat views about the evolving, more stringent expectations of bank regulators.

Esther George, president of the Kansas City Fed, highlighted the shortcomings of banking regulation, especially as applied to community banks, and said the "pendulum has swung too far" on consumer protection.

RentTrack and TransUnion have partnered to ensure renters "get the credit they deserve for on-time monthly payments."

Financial Crimes Enforcement Network Director Jennifer Shasky Calvery pushed back again Tuesday against the idea that reports filed by bankers are not used by law enforcement officials.

Rep. John Delaney said Tuesday that he's "optimistic" Congress could take up reform of Fannie Mae and Freddie Mac next term, despite the political difficulties lawmakers have faced in getting legislation approved over the past two years.

Speaking at American Banker's Regulatory Symposium, Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig said complex firms should not discount regulators' warnings of heightened supervision if their 2015 resolution plans fail to impress.

The Federal Reserve is tracking the competitive climate among community banks, including the dearth of new charter activity. Key officials also used opening remarks at the Fed's community banking conference to outline ways they are trying to improve communication with bankers.

In a broad-ranging Q&A at American Banker's Regulatory Symposium, Comptroller of the Currency Thomas Curry questioned the asset threshold used to subject larger banks to enhanced rules, and discussed examiners' concerns about the "culture" at banks.

There were fewer institutions originating mortgages in 2013, while low- and moderate-income borrowers took a smaller share of industry volume, according to the recently released Home Mortgage Disclosure Act data.