Regulatory reform

How will Mick Mulvaney reshape the consumer watchdog agency? American Banker Editor-in-Chief Rob Blackwell shares his inside-the-Beltway take on the CFPB’s future.

The ill will between Democrats and Republicans in the controversy over appointing an acting Consumer Financial Protection Bureau chief adds a new wrinkle to bipartisan efforts to pass regulatory relief.

The financial services industry has cheered a proposed reduction in the corporate tax rate, but a lower rate could force Fannie Mae and Freddie Mac to write down assets, increasing the odds that the companies will need Treasury support.

Employees at the Consumer Financial Protection Bureau are privately questioning why outgoing director Richard Cordray abruptly tapped a 34-year-old chief of staff with no enforcement, supervisory or legal experience to head the embattled agency after he resigned.

In his nomination hearing, Jerome Powell was quick to assure Republican senators of his regulatory relief credentials. But Democrats still fear that he and other Trump appointees might upend the Dodd-Frank Act.

The former bank CEO is widely expected to continue the recent push to implement a more industry-friendly agenda.

President Trump has tapped Office of Management and Budget Director Mick Mulvaney as interim head of the CFPB. He has taken tough stances on the CFPB, its payday lending rule, housing finance reform and other issues pending before the agency.

NCUA’s approval of a new approach to its overhead transfer rate will benefit all credit unions, but the movement must still closely watch how its funds are spent.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg raised concerns about provisions that would significantly increase the systemic risk threshold for large banks, as well as one that would change the calculation for the supplementary leverage ratio.

When CFPB Director Cordray resigns in two weeks, will the agency grind to a halt? Kate Berry reports on the embattled agency.