Policy & Regulation

The Trump administration and acting Consumer Financial Protection Bureau chief Mick Mulvaney won round one in a legal battle challenging Mulvaney's leadership. His critics will have a tall order trying to win round two.

The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

The number of newly chartered credit unions can’t compensate for consolidation across the industry, and many sources say that isn’t likely to change anytime soon.

The $50 billion threshold replaced by a formula, but bill must be reconciled with Senate version; Fed, FDIC say the eight big banks still have work to do.

Despite increasing bipartisan support to remove asset cutoffs for "systemically important financial institutions," Congress will likely settle for an asset threshold increase.

The Federal Reserve and Federal Deposit Insurance Corp. identified shortcomings with the living wills of Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley, even as they gave them and the remainder of the eight biggest banks a pass.

The Consumer Financial Protection Bureau on Tuesday withdrew a plan to conduct a web survey for its debt collection proposal while acting Director Mick Mulvaney reviews the rulemaking.

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses.

The Fed approved an application giving Natcom Bancshares indirect control over Republic Bank, declining to take into account claims the transaction imperils the target's S corporation status.