Law and regulation

A legal-support firm under investigation by the Consumer Financial Protection Bureau is accusing the CFPB of overstepping its bounds in demanding personal information about the firm's clients.

The House Financial Services Committee plans to mark up legislation Tuesday to wind down Fannie Mae and Freddie Mac and replace them with a system primarily driven by the private sector.

An upcoming dividend rate increase on shares issued under Tarp could prompt more banks to find buyers.

Two new bills in Congress would undermine Dodd-Frank’s ability-to-repay rule and recreate incentives for lenders to steer families into high-risk, high-fee loans they do not understand and cannot afford.

The Indiana Attorney General’s Office filed a lawsuit to recover $83,000 from a Spencer County (Ind.) woman they say misappropriated North Spencer County (Ind.) School Corp. funds from 2007 to 2013.

With the completion of Basel III final rules, regulators have at least fulfilled a Dodd-Frank Act requirement to raise capital standards. But as the financial reform law approaches its three-year anniversary on July 21, only 40% of the roughly 400 required rules have been finalized while nearly 32% have not even been proposed, according to the law firm Davis Polk.Following is a list of some of the top Dodd-Frank rules that have not yet been completed.

The Senate's latest proposal to break up the big banks faces an uphill battle, but FDIC Vice Chairman Thomas Hoenig still says it could have a major impact on the movement to separate big banks' commercial and investment activities.

Sen. Elizabeth Warren, D-Mass., was the Senate's presiding officer when lawmakers confirmed Richard Cordray as director of the Consumer Financial Protection Bureau.

Raj Date, the former No. 2 at the Consumer Financial Protection Bureau, was reappointed to the board of the peer-to-peer lender Prosper Marketplace, the company said Friday.

The federal government says it may build databases of credit card transactions, hotel records and Internet searches as part of counter security measures.

The Georgia company is finally ready to exit the Troubled Asset Relief Program, allowing executives to set their sights on increasing revenue.

The Federal Trade Commission's recent lawsuits against two independent sales organizations for alleged violations of the Telemarketing Sales Rule may be the "tip of the iceberg" of regulatory action against the acquiring industry.

The trials and tribulations of getting regulators to agree on joint rulemakings are a big reason why many key Dodd-Frank Act rules are still unfinished on the law's third anniversary.

Both Federal Reserve Board Chairman Ben Bernanke and Treasury Secretary Jacob Lew spoke this week on how long it would take U.S. regulators to end "too big to fail" and to implement Dodd-Frank.

The Federal Reserve Board has levied a fine against Minster Bank in Ohio and freed a Missouri company from an enforcement action.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

The DBA International Board of Directors is accepting applications from representatives of third-party collection agencies who wish to be considered for a position on the Debt Buyer Certification Council.

Disagreements between Democrats and Republicans on the House Financial Services Committee over a GOP-backed housing plan offered a sharp contrast with bipartisan efforts in the Senate.

It might take "another year from now" to finish Dodd-Frank rules that seek to end "too big to fail," Federal Reserve Chairman Ben Bernanke said. That was a slower timetable than that given by Treasury Secretary Jacob Lew.

The U.S. Government Accountability Office has agreed to Sen. Mike Crapo's July 2 congressional request to examine the data collection efforts at the Consumer Financial Protection Bureau.