Kraninger proposes to extend GSE patch, replace DTI measure

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

FDIC, OCC: Geopolitical tensions mean more cyberrisk

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

Senators to IG: Investigate CFPB’s restitution practices

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

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

Bill would nix Section 1071 mandate

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