House Votes to Overhaul Dodd-Frank, Now Senate’s Turn to Review

House Votes to Overhaul Dodd-Frank, Now Senate’s Turn to Review

On June 8th, the U.S. House of Representatives voted 233-186 to advance the Financial CHOICE Act to the Senate and continue the long process toward major revisions to the Dodd-Frank Act, a banking reform and consumer protection law passed by a bipartisan Congress...
Trump Taps Former Banking Exec to Head OCC

Trump Taps Former Banking Exec to Head OCC

President Trump is expected to nominate Joseph Otting, an ally and former employee of Secretary of the Treasury Steve Mnuchin’s OneWest Bank, to manage the Office of the Comptroller of the Currency (OCC). Otting brings an extensive background in commercial banking...
NAFSA: Chairman LaMalfa “off to a good start”

NAFSA: Chairman LaMalfa “off to a good start”

In a recent article in Indian Country Today, NAFSA executive director Gary Davis offered his thoughts on California Rep. Doug LaMalfa, who is the new chairman of the Subcommittee on Indian, Insular and Alaska Native Affairs on the House Natural Resources Committee....
ABA Carves Irresponsible Path Toward Small Dollar Bank Lending

ABA Carves Irresponsible Path Toward Small Dollar Bank Lending

The American Bankers Association (ABA) recently published a report, titled “Small Dollar Credit, Millions of Small Needs Add Up to a Big Deal: Banks Should Be Allowed to Offer Customers Multiple Choices,” detailing the potential entry of banks into small dollar...
Trump Budget Eliminates New CDFI Funding

Trump Budget Eliminates New CDFI Funding

President Trump’s proposed budget for the federal government’s fiscal year 2018 includes the near elimination of the Community Development Financial Institution (CDFI) Fund, reducing the program’s budget from $248 million to $14 million. CDFIs provide a wide range of...
Full House Vote on CHOICE Act Slated for Week of June 5th

Full House Vote on CHOICE Act Slated for Week of June 5th

The U.S. House of Representatives is expected to take a floor vote of all members on the Financial CHOICE Act the week of June 5th. The bill remains mostly unchanged from the one that passed the House Financial Services Committee last month, although a provision that...
State of New York Sues OCC Over FinTech Charters

State of New York Sues OCC Over FinTech Charters

On the heels of a challenge by the State Conference of Bank Supervisors (SCBS) last month, the State of New York filed suit against the Office of the Comptroller of the Currency (OCC) earlier this month to halt implementation of the agency’s proposed special purpose...
En Banc D.C. Circuit Hears Arguments On Constitutionality of CFPB

En Banc D.C. Circuit Hears Arguments On Constitutionality of CFPB

On May 24th, an en banc collection of eleven circuit court judges from the U.S. Court of Appeals of the District of Columbia heard oral arguments on the constitutionality of the structure of the Consumer Financial Protection Bureau (CFPB) in PHH v. CFPB. The en banc...

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