Compliance

CFPB Director Richard Cordray said the agency has limited resources to go after bad actors for deception or fraud and consent orders are the most effective way to shape industry practices.

The fight between Apple and the FBI over the security protections on the San Bernardino, Calif., iPhone is about more than a single iPhone or Apple’s product line. This is a reality check for the entire tech industry, which has largely remained unchecked.

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.

The Federal Financial Institutions Examination Council has appointed Tennessee's state banking commissioner to its state liaison committee.

CFPB Director Richard Cordray said the agency has limited resources to go after bad actors for deception or fraud and consent orders are the most effective way to shape industry practices.

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.

Federal Reserve Board Gov. Lael Brainard's contributions to Hillary Clinton's 2016 presidential campaign is drawing the ire of some members of Congress who already question federal regulators' political autonomy.

Having served as a holdover since her term expired last spring, Debbie Matz announced she will be departing the agency at the end of next month.

There is an urgent need for the Financial Crimes Enforcement Network to bring its process for issuing civil money penalties and cease-and-desist orders in line with the other bank regulators.

Obtaining money transmitter licenses in every state has been a lengthy process for WorldRemit, but one that paid off big this month when the company became regulated in California.