Regulatory guidance

In remarks at the Inclusiv conference, NCUA Chairman Mark McWatters pledged to help small CUs but said they're responsible for their own business plan and can't expect NCUA to do the hard work for them.

The consumer bureau’s interim chief told an industry conference that “regulation by enforcement is done.”

The House Financial Services Committee has steadily passed regulatory reform legislation this year. But any measure faces a stiffer challenge in the upper chamber.

The House Financial Services Committee has steadily passed regulatory reform legislation this year. But any measure faces a stiffer challenge in the upper chamber.

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.

If the GOP keeps the Senate, the Pennsylvania Republican, who has pressed for bigger changes to the Dodd-Frank Act than recently enacted regulatory relief legislation, could be the next banking chair. Here's what that means for credit unions.

The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.

If the GOP keeps the Senate, the Pennsylvania Republican, who has pressed for bigger changes to the Dodd-Frank Act than recently enacted regulatory relief legislation, could be the next banking chair. Here's what that means.

Acting CFPB Director Mick Mulvaney held a roundtable with credit union leaders from the plains states, including discussions of how the bureau would seek input form CUs now that its advisory boards have been shuttered.

The agency's bulletin opens the door to banks' making more short-term loans to borrowers with lower credit scores — with few parameters beyond "sound underwriting."

The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem."

Banking and mortgage groups are asking the Federal Communications Commission to issue new Telephone Consumer Protection Act rules that would make consumer lawsuits over robocalls harder to win.

The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau.

The New York State Department of Financial Services is encouraging banks to review ties with the firearms industry.

As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.

Lawmakers should not toss out an agency rule aimed at curbing auto dealer markups that adversely impact borrowers of color.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

A majority of midsize and large banks complain that red tape is mounting and that they are passing on higher regulatory costs to customers and have less flexibility in designing products, according to a new survey by the RMA.

The new request for information is the 10^th in the series that is part of acting Director Mick Mulvaney’s “call for evidence” to assess the CFPB’s overall effectiveness.