Regulatory relief

Proposal to revamp 2013 rule appears to home in on larger banks with higher trading volume and ease the requirements for others.

The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry.

The bill passed by the House took a more cautious approach to relief than prior legislative proposals but has still been hailed by banking industry groups.

JPMorgan Chase has largely sat on the sidelines of Federal Housing Administration lending due to compliance concerns. But recent regulatory relief efforts have Chase Home Mortgage CEO Mike Weinbach eyeing an opportunity to jump back in.

As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress.

Critics of the Consumer Financial Protection Bureau have long sought to convert its leadership structure from a single director to a five-member commission. Here’s why the idea is dead on arrival.

First the House and now the Senate have included provisions in their regulatory relief bills that bankers say would go a long way toward clearing up confusion over how to treat high-volatility commercial real estate loans.

A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.

Former Rep. Barney Frank rejected concerns voiced by other Democrats that a Senate bill rolling back some provisions of the Dodd-Frank Act will fuel another financial crisis.

The Senate is poised to pass the most substantial bank regulatory relief since the crisis, but any disruption of the post-crisis regime is still eclipsed by how much the bill enshrines Dodd-Frank.

“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.”

Comptroller of the Currency Joseph Otting said reform of Community Reinvestment Act regulations is a "key element" of how regulators aim to recalibrate rules a decade after the financial crisis.

As a bipartisan regulatory relief bill approaches the finish line in the Senate, the House has mostly stood on the sidelines. But no one expects the lower chamber to just rubber-stamp the deal.

The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.

Many in the industry applauded the Consumer Financial Protection Bureau's new mission statement shifting the agency's focus away from using enforcement actions as a substitute for rules of the road.

Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million.