As questions loom as to what the secondary mortgage market will look like in two years, Consumer Financial Protection Bureau Director Kathy Kraninger decided the bureau should extend its temporary measure allowing for certain exceptions to its Qualified Mortgage standard, also known as the “GSE patch.” The letter also indicates that the CFPB plans to … Read more
The Consumer Financial Protection Bureau has added a third alumnus of the Federal Trade Commission to its Taskforce on Federal Consumer Financial Law. The bureau announced the selection of four members to serve on the taskforce earlier this month. Read on for more information about the late edition to the taskforce.
Heightened geopolitical tensions mean financial institutions could be at higher risk of facing a cyberattack, according to the Federal Deposit Insurance Corp. (FDIC) and the Office of the Comptroller of the Currency (OCC). With that in mind, the agencies issued a joint statement on “Heightened Cybersecurity Risk” urging financial institutions to reevaluate their information security … Read more
Tuesday 21 January 2020 17:14
The reduced amount of restitution being collected by the Consumer Financial Protection Bureau (CFPB) under Director Kathy Kraninger has spurred a group of Democratic senators to mobilize, calling for an investigation by the Inspector General of the Federal Reserve. At the center of the lawmakers’ claims are four enforcement actions during Kraninger’s first year in … Read more
ESMA consults on the use of No Data options in securitisation reporting Friday 17 January 2020 10:47 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a Consultation Paper on Guidelines on securitisation repository data completeness and consistency thresholds. The consultation’s objective is to help market participants and securitisation repositories … Read more
As the Consumer Financial Protection Bureau (CFPB) has taken what seem to be positive steps towards implementing long-anticipated rulemaking on small business loan data collection under Director Kathy Kraninger, the agency has faced no shortage of resistance from the financial industry. A piece of legislation introduced by Rep. Roger Williams (R-Texas) seeks to eliminate the … Read more
The Federal Reserve is primarily attributing a year-over-year dip in total net income recorded collectively by the nation’s Reserve Banks to a drop in certain interest income tied to securities combined with an uptick in certain security-related interest expenses on securities. The Reserve Banks have seen a drop in net income in each of the … Read more
The SEC’s Office of Investor Education and Advocacy is issuing this alert to urge investors to use caution before investing in so-called “initial exchange offerings” through online trading platforms.