The Board of Governors of the Federal Reserve has fined Citigroup $8.6 million for the improper execution of residential mortgage-related documents.
Joe Mont
Posted inRegulatory Enforcement
CFPB settles payday lending enforcement action
A federal district court in the Western District of Missouri has approved a settlement between the CFPB and the owners of 20 interrelated corporate entities in the payday lending industry. The owners, it is alleged, illicitly accessed consumer bank accounts.
Posted inUncategorized
The many compliance lessons of Tesla
One simple tweet from Tesla’s outspoken founder speaks to volumes of compliance and regulatory concerns.
Posted inUncategorized
CFPB amends Gramm-Leach-Bliley Act’s privacy notice requirement
The CFPB will amend the Gramm-Leach-Bliley Act to allow banks that meet certain requirements to be exempt from sending annual privacy notices to their customers.
Posted inUncategorized
Reps launch effort to bar peers from serving on corporate boards
In response to yet another member of Congress charged with insider trading, Reps. Tom Reed and Kathleen Rice will introduce a House resolution to prohibit fellow legislators from serving on corporate boards.
Posted inUncategorized
State regulators adopt single exam for mortgage licensing
The Conference of State Bank Supervisors has announced that all U.S. states can now use a single, common exam to assess mortgage loan originators.
Posted inUncategorized
State AGs push for a beneficial ownership disclosure law
A bipartisan group of 24 attorneys general is urging Congress to advance legislation improving the transparency of shell corporations by requiring them to disclose who controls and profits from their activities.
Posted inUncategorized
CFPB helps launch international financial innovation coalition
The CFPB, working with foreign financial regulators, has announced an initiative to create the Global Financial Innovation Network, intended to provide a more efficient way for innovative firms to interact with regulators.
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Foreign deal making, exports face increased scrutiny
New legislation clarifies and strengthens ability of government agencies to review, and potentially block, cross-border deals in the name of national security.
Posted inUncategorized
SEC urged to boost crowdfunding cap
Crowdfunding evangelists are asking the SEC to consider raising the investment cap under Regulation Crowdfunding from $1 million to $20 million.
