Joe Mont

Six federal financial regulatory agencies have jointly issued a proposed rule to establish new appraisal requirements for what they deem “higher-risk mortgage loans” and combat the once frequent practice, during the housing market boom, of so-called “drive-by” appraisals that were conducted without an interior inspection of the property. The proposed rule would implement amendments to […]

As it has done for the past 19 years, the Institute for Policy Studies on Thursday released its annual study of executive compensation. Once again the progressive think tank is singling out corporate executives who were paid more in 2011 than their companies shelled out in taxes. According to “Executive Excess 2012: The CEO Hands […]

One day before a scheduled hearing that could have revoked its license to operate in New York, Standard Chartered Bank reached an agreement with a New York state regulator that accused it of willfully bypassing sanctions against the Iranian Government. On Tuesday, the bank agreed to a settlement with the New York’s Department of Financial […]

On July 24, Compliance Week and Navex Global presented an editorial roundtable at the Blackstone Hotel in Chicago. The focus of the roundtable, which was moderated by Compliance Week Editor Matt Kelly, was on ROI associated with strong ethical cultures. Attendees’ full biographies are below. Bob Conlin Chief Products Officer NAVEX Global   Bob Conlin […]

Although many final rules mandated by the Dodd-Frank Act are still not in place two years after its passage, Standard & Poor’s has nevertheless taken a crack at estimating what those reforms will cost the nation’s largest banks. In a new report, “Two Years On, Reassessing the Cost of Dodd-Frank for the Largest U.S. Banks,” […]

The Consumer Financial Protection Bureau (CFPB) has proposed a series of new rules it says will to protect homeowners from “costly mistakes” by the mortgage servicers responsible for collecting payments on behalf of the loan’s owner. The Dodd-Frank Act imposes various requirements on servicers and gave the CFPB statutory authority to write rules. The proposals, […]

A proposal for the creation of a “futures insurance fund” is being pitched by Commodity Futures Trading Commission member Bart Chilton. Chilton, who announced his plan on Thursday, has floated the idea since the collapse of MF Global last November. He sees such a fund as operating similar to the banking insurance (up to $250,000) […]

Aside from the damage to its reputation, what is the ongoing fallout from the phone hacking and bribery scandal at News Corp. costing the company? We get at least a partial answer in a quarterly earnings statement the company released on Wednesday: $57 million for the quarter and $224 million in total over the course […]