Policy & Regulation

The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee.

The Lower East Side People’s Credit Union filed a suit against President Trump over his appointment of Mick Mulvaney as the CFPB's acting director.

If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.

The assessment from the central bank means MidSouth faces restrictions on board appointments and executive duties. Last year the OCC called the Louisiana company a "troubled institution."

But bank will benefit long-term from tax reform; judge says accounting firm failed to detect mortgage fraud that did in Colonial Bank.

Over the past year, the focus of several banking policymakers has been how much the regulatory pendulum might swing back toward the industry’s liking. That theme will likely continue in 2018.

Oriental Bank in San Juan was ordered to pay just over $153,000 for failing to notify borrowers that they were required to purchase flood insurance. The fine was one of several November enforcement actions made public Friday by the FDIC.

In his current position as chair of the National Credit Union Administration, J. Mark McWatters has publicly advocated for cutting back the CFPB’s oversight of the credit union industry.

A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm elections could cause some reform initiatives to grind to a halt.

Credit card debt hit $807 billion in the fourth quarter of 2016, with consumer balances on average exceeding $4,800, according to a report released by the Consumer Financial Protection Bureau.