Slideshow Pranks at CFPB, tax cuts' impact and bitcoin: Top stories of the week

Published
  • December 08 2017, 4:07pm EST
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Mulvaney’s first days at CFPB: Payday, personnel and a prank

Acting CFPB Director Mick Mulvaney backed a congressional effort to overturn the agency's short-term lending rule, said he planned to install more political appointees and acknowledged a possible prank played on him.

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Mulvaney's plan to embed political staffers in CFPB sparks backlash

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators.

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GAO effectively scraps CFPB auto lending guidance

The Consumer Financial Protection Bureau’s 2013 guidance putting indirect auto lenders on the hook for unintentional discrimination by their partner dealers should have been subject to congressional review, the Government Accountability Office said Tuesday.

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Tax cuts, hacking and fintech partnerships: A bank CEO's take

During a sit-down interview, Bruce Van Saun, the CEO at Citizens Financial, explained how Washington policy changes could boost lending, why cyber threats keep him up nights and how fintechs and AI are changing the industry for the better.

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Big banks hope early bet on Alexa will pay off

With millions of Alexa and Google Home devices now in use, first-mover banks are rapidly developing services to let customers control their finances using only their voice — even if there are still many kinks to work out.

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Fifth Third's McWilliams tapped as next FDIC chair

Jelena McWilliams, the chief legal officer for Fifth Third Bancorp, will be nominated as the next chair of the Federal Deposit Insurance Corp., the White House said late Thursday.

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M&T finally seems ready for another bank acquisition

Five years have passed since M&T agreed to buy Hudson City, only to be tripped up by anti-money-laundering issues. With a clean bill of health from regulators and Hudson integrated, management is again talking about its interest in deals.

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When technology becomes a bank merger's albatross

After two century-old community institutions merged in 2010, they never suspected it would take seven years before their operating systems got along.

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Is it time for bankers to rethink bitcoin?

Dizzying trading in bitcoin fed the bubble argument, but now that Nasdaq is the third Wall Street player to say it is designing a financial instrument around it, banks may be forced to reassess cryptocurrencies.

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Breaking down Hensarling's GSE reform overture

House Financial Services Committee Jeb Hensarling shifted tactics on housing finance reform Wednesday, acknowledging that a bill he’s pushed for years to virtually eliminate the government’s role in the mortgage market lacks the support to become law.

(Full story here.)