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Firing or cutting the pay of fraudulent or reckless bankers will go a lot further toward restoring the reputation of financial services than any new regulations, according to a reform-minded group of bankers and regulators.
July 31 -
NCUA issued four prohibition orders in July banning individuals from participating in the affairs of any federally insured financial institution.
July 31 -
Unhappy with the regulator's effort to pare back restrictions on CUs business loans, bankers have taken a page from the CU handbook, sending copious letters to NCUA about its proposed MBL rule.
July 31
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DENVERFourth Corner CU here, chartered last year to serve Colorado's legal marijuana industry, has filed lawsuits against NCUA and the Federal Reserve after having its applications rejected for share deposit insurance and access to the Fed system, respectively.
July 31 -
The Federal Housing Administration is expected to rebuff a government watchdog report that blasted down payment assistance programs. The report has raised concerns that mortgage lenders would have to indemnify FHA for past loans, and that housing finance agencies would have the programs restructured.
July 30 -
The House Financial Services Committee continued its two-day vote of 14 financial reform bills, approving a variety of measures.
July 29 -
The Financial Services Committee is debating more than a dozen bills aimed at changing a wide swath of financial policies.
July 29 -
MasterCard is cooperating with a European investigation into its fees, though it is questionable that this process will have a widespread effect on interchange, according to MasterCard CEO Ajay Banga.
July 29 -
The Consumer Financial Protection Bureau is charging two companies affiliated with Western Union and Fidelity National Financial more than $38 million in total charges for allegedly steering consumers into a mortgage payment program that cost them millions of dollars in fees.
July 28 -
Two years after a Texas community bank's legal challenge to the Consumer Financial Protection Bureau's constitutionality was dismissed by a federal court, the case is back from the dead.
July 27
