Regulatory reform

Rodney Hood, chairman of the National Credit Union Administration board, will testify later this week before a Senate committee with CECL as a likely topic.

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

The industry has long complained that gathering the data is confusing and costly but two plans issued by the CFPB could help lighten the burden for a significant portion of credit unions.

The Financial Stability Oversight Council first wanted to target individual nonbanks that are economically risky. Now it wants to target activities instead. Is that a good idea or a political ploy?

The Financial Stability Oversight Council is shifting away from designating specific nonbanks and moving toward identifying activities that threaten the whole system. But some say that approach just weakens the council.

Lawmakers are poised to advance a bill requiring that commercial customers identify their beneficial owners — taking that burden away from their financial institution — but the anti-money-laundering reform arguably most favored by banks has fallen off the radar.

The long-awaited proposal includes safe harbors to protect collectors from getting sued, but would restrict phone collection attempts and allow borrowers to opt out of receiving other communications.

As the central bank board proceeds with reforms easing the post-crisis regulatory regime, the Obama-appointed governor has not shied from opposing the agency’s course.

Changing demographics and cultural trends are making bank CEOs think beyond profitability and toward addressing what they stand for.

The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.

The head of the central bank declined to provide more specifics on efforts to simplify the ban on banks’ proprietary trading.

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment.

With the candidates still introducing themselves to voters and honing their message, little has been said about the financial industry.

With the candidates still introducing themselves to voters and honing their message, little has been said about the financial industry.

New FHFA Director Mark Calabria isn't just charting a future for Fannie Mae and Freddie Mac, but also fixing problems resulting from the "qualified mortgage" exemption for the GSEs and taking a "deep dive" into problems in the mortgage servicing market.

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.

Ex-Sens. Heidi Heitkamp, D-N.D., and Joe Donnelly, D-Ind., played key roles in negotiating the 2018 regulatory relief bill, but then went on to lose their re-election bids in the midterm elections.

The Fed wants to make it easier for investors to own big stakes in banks without triggering oversight; Shelley O’Connor has been named head of the firm's two regulated bank entities.

In separate letters to President Trump and the head of the FDIC, the Senate Democrat said the merger cannot be approved until all five seats of the agency's board of directors are filled.

The Fed board unveiled a proposal Tuesday to standardize how investors owning less than one-quarter of a bank can determine who holds a "controlling" stake and therefore must register as a bank holding company.