Amid Republican led efforts to weaken its purview, the Consumer Financial Protection Bureau has prevailed against a legal challenge to the constitutionality.
Joe Mont
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OCC chides Senate critics, defends supervisory reforms
The Comptroller of the Currency is fighting back against accusations by Senate Democrats, that his agency was slow to adapt to lessons learned from last year’s problematic behavior at Wells Fargo.
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On the front lines with machine learning and AML battles
An inside look at how one company is helping one of Singapore’s largest banks utilize machine learning and artificial intelligence.
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Despite deregulation push, the SEC keeps working on new rules
Even as the Trump Administration trumpets its deregulation efforts, the SEC is working to implement a backlog of stalled rules already on the books.
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CFPB finalizes changes to prepaid accounts rule
The Consumer Financial Protection Bureau has announced finalized to its prepaid rule. Included in the changes is a year-long extension to the effective date.
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SEC invites companies to submit diversity assessments
The Securities and Exchange Commission, through its Office of Minority and Women Inclusion, has introduced a voluntary diversity self-assessment report. The Commission will also ask firms to submit diversity policies and practices.
Posted inRegulatory Enforcement
CFTC charges executives for ongoing virtual currency scam
The CFTC announced that it is bringing commodity fraud and misappropriation charges related to the ongoing solicitation of customers for a virtual currency known as My Big Coin.
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House Committee advances new roster of regulatory reforms
The House Financial Services Committee has advanced a new slate of 15 bills on to the full House and Senate for their consideration. Passage of several of the bills would offer financial institutions regulatory relief.
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White House imposes tariffs on washing machines, solar panels
President Trump executed on his “America First” doctrine this week by declaring new tariffs on imported solar panels and washing machines. Critics fear the move is an opening salvo to a trade war with China.
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St. Thomas Moore’s influence on the recast CFPB
The reshaping of the CFPB at the hands of Acting Director Mick Mulvaney continued this week: In an “all hands” memo, Bureau employees were prepared for a philosophical readjustment.
