OCC Set for FSOC Showdown with CFPB Over Arbitration Rule

OCC Set for FSOC Showdown with CFPB Over Arbitration Rule

In a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, Acting Comptroller Keith Noreika of the Office of the Comptroller of the Currency (OCC) asked the Bureau to delay publishing its final arbitration rule and release data used to...
Pushback Expected on CFPB’s New Arbitration Rule

Pushback Expected on CFPB’s New Arbitration Rule

Despite a threat of contempt charges from House Financial Services Committee Chairman Rep. Jeb Hensarling (R- TX), the Consumer Financial Protection Bureau (CFPB) issued a final rule on July 10th restricting mandatory arbitration clauses and opening more financial...
CFPB Publishes Arbitration Rule

CFPB Publishes Arbitration Rule

The Consumer Financial Protection Bureau (CFPB) issued its final rule today on arbitration clauses, only a few days after Rep. Jeb Hensarling, Chairman of the House Financial Services Committee, threatened CFPB Director Richard Cordray with contempt charges if the...
CFPB Issues Semi-Annual Report to Congress

CFPB Issues Semi-Annual Report to Congress

The Consumer Financial Protection Bureau (CFPB) recently published its 11th Semi-Annual Report to Congress, covering the period from October 1, 2016 to March 31, 2017. The report includes information on the agency’s consumer complaint process, supervisory actions, the...
Banks, Lenders Petition for Changes to Enforcement from DOJ

Banks, Lenders Petition for Changes to Enforcement from DOJ

The American Banking Association, American Financial Services Association, Consumer Mortgage Coalition, Independent Community Bankers of America, and Mortgage Bankers Association sent a letter to former Alabama Senator, now U.S Attorney General, Jeff Sessions...
OCP Lawsuit Moves Forward in Federal Court

OCP Lawsuit Moves Forward in Federal Court

A federal judge ruled on July 5th that a lawsuit against the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) regarding the agencies’ coercion of banks during Operation Choke Point (OCP) could...
Banks Pass Stress Tests, Could Weather Another Recession

Banks Pass Stress Tests, Could Weather Another Recession

As required under the Dodd-Frank Act, the Federal Reserve conducted its regular stress tests of major American banks and released the results late last month. Banks that hold more than $50 billion in assets are mandated to submit to a series of hypothetical tests to...

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