Law and regulation

CFPB examiners aren’t backing down over technical issues, and plaintiffs – as well as state attorneys general – could cause more issues for CU compliance, a panel of legal experts told credit unions at the 2018 CUNA GAC.

The nation's finance minister is set to overturn Bank Act restrictions that would have prevented credit unions from using words like "bank" or "banking" in their communications.

Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.

A look back at some of the highlights from the Credit Union National Association's 2018 Governmental Affairs Conference.

If taxation is the future of our movement, it should be directed at large, bank-like credit unions in order to protect smaller institutions that have stayed true to our founding spirit.

Banks may start paying special dividends now that capital levels have improved.

With the state only months away from allowing the sale of pot for recreational use, its top cannabis regulator is urging policymakers to consider creating a public bank to provide services to growers and dispensaries that might otherwise have nowhere else to bank.

There could be a pause in new issuance as CLO managers wait to see if the government will appeal; longer term, the pace will pick up as the playing field is leveled for smaller managers.

Leadership of the CFPB was thrown into turmoil Friday with reports that President Trump is considering naming acting Director Mick Mulvaney to replace White House Chief of Staff John Kelly.

The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.

The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.

In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.

A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.

In a blow to the Consumer Financial Protection Bureau, a federal judge rejected the agency's request for over $280 million in penalties against the California lender CashCall, ruling that the lender's violations did not justify such a large fine.

Three nominees for financial regulatory posts, including the administration's choice to run the FDIC, will face questions by the Senate Banking Committee.

Here's a look at what happens at five federal agencies that support the mortgage industry during a government shutdown.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney has cited hundreds of confirmed and suspected data breaches as justification for his halting the bureau's data collection activities last month.

"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.

If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest.