Policy and Regulation

The Consumer Financial Protection Bureau has withdrawn guidance that allowed states to bring enforcement actions broadly under federal consumer protection laws.

The closely watched case centers on bank allegations the government corporation promised certain reverse-mortgage assets in return for funding then reneged.

The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.

The agency wants the National Collegiate Student Loan Trusts, which sell student loan asset-backed securities (ABS) to investors, to pay $2.25 million in fines to borrowers.

Consumer Financial Protection Bureau's decision removes about $49 billion in medical bills from consideration for about 15 million Americans.

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.

Europe's top finance ministers are questioning the U.S.'s commitment to the global capital standards. The mistrust could have consequences for international regulatory efforts.

The Federal Housing Finance Agency issued guidance to ensure the Federal Home Loan banks are lending based on the credit worthiness of the member bank, not solely on the quality of the collateral.

The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.