Enforcement

Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?

The Federal Reserve Board announced that Vice Chairman of Supervision Randal Quarles will recuse himself from matters related to Wells Fargo “to avoid even the potential appearance of a conflict of interest.”

Royal Bank of Scotland Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a U.S. mortgage-bond probe before the end of the year as he'd hoped, though it's well-capitalized to handle a settlement.

More regulation, more regulators and more regulatory uncertainty both increase the cost of and inhibit financial services and payments innovation.

The Office of the Comptroller of the Currency is eliminating a plan designed to ensure its examiners did not get too close to the big banks they supervise.

More regulation, more regulators and more regulatory uncertainty both increase the cost of and inhibit financial services and payments innovation.

In a letter to President Trump, 44 Democratic senators said the White House's appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau "jeopardizes the agency’s independence and effectiveness."

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.

Reform of the Community Reinvestment Act should seek to establish a minimum standard for the volume of CRA activities a bank must complete in its assessment area.

The most immediate threat to the safeguards underpinning a well-functioning banking sector involves the failure of regulators to hold banks accountable.

The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland.

Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.

The resignation of CFPB Director Richard Cordray gives President Trump the chance to name a director who could roll back agency rules and supervisory policies.

Policymakers have made significant progress in the assigning of regulatory accountability, but more work is necessary.

Wells Fargo & Co. added $1 billion in the third quarter to what it says the bank may face in possible legal expenses.

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

The Consumer Financial Protection Bureau said Friday that Anthony Alexis, its enforcement chief, plans to leave the agency after more than five and a half years.

Wells Fargo took a surprise $1 billion charge in the third quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits.

The GOP inquiry appears aimed at providing more ammunition for potentially ousting Director Richard Cordray, but the report's impact may be limited.

Unlike a visiting sports team, foreign banks can't just blame local referees they perceive as biased for penalties or fines.