As the CFPB’s efforts fade away, Sen. Amy Klobuchar (D-Minn.) is urging the Federal Trade Commission to ramp up its own investigation into last year’s Equifax data breach.
Joe Mont
Pawlenty to step down from bank consortium
Financial Services Roundtable CEO Tim Pawlenty will bid adieu to the advocacy group and lobbyist for big banks in the United States by March. Reports have him considering a campaign for his old job: Governor of Minnesota.
Powell takes charge as Fed’s chairman of the Board of Governors
On Feb. 5, Jerome H. Powell took the oath of office as chairman of the Board of Governors of the Federal Reserve System, succeeding Janet L. Yellen. His term as chairman is four years.
Coalition urges Congress to halt CFPB rule on ‘payday’ loans
Free market groups, led by the Competitive Enterprise Institute, petitioned Congress to stop the Consumer Financial Protection Bureau’s restrictions on “payday” loans.
Prudential Financial’s Lee Augsburger and the power of culture
When you’re one of the world’s biggest insurance companies, embracing cultural difference is key to creating a truly global compliance program that delivers results.
Adapting the regulatory landscape for FinTech remains a challenge
As FinTech services proliferate, state and federal regulators are considering how to create a simpler set of rules, but progress has been slow.
Fed drops hammer on Wells Fargo, board for past misdeeds
On her last day as Federal Reserve Chairman, Janet Yellen escalated the regulatory attack on the embattled Wells Fargo, restricting the growth of the firm until it “sufficiently improves its governance and controls.”
CFPB shuffles unit reporting lines, reviews administrative proceedings
The work of a CFPB unit dedicated to discrimination cases, the Office of Fair Lending and Equal Opportunity, has been undermined by a recently announced organizational change, critics say. Also under new scrutiny at the agency: its use of administrative proceedings.
Activists claim Pruitt purged climate information from EPA website
The Environmental Defense Fund says it can show EPA Administrator Scott Pruitt’s personal involvement in efforts to remove information about climate change from his agency’s Website. It also wants him to recuse himself from any further Clean Power Plan proceedings
Hearing assesses link between human trafficking, U.S. financial markets
The House Financial Services Committee held a hearing this week to solicit expert opinion on how human traffickers exploit U.S. financial markets and what more can be done to strike back.


