Key Insight: Acting Consumer Financial Protection Bureau Director Russell Vought says he cannot request money for the bureau because the Federal Reserve System has not turned a profit since 2022. Supporting Data: While some think the issue could be taken up eventually by the Supreme Court, new data suggests the Federal Reserve may return to […]
CFPB tees up second funding battle with Supreme Court Read More »
Key Insight: The enhanced supplemental leverage ratio was adjusted to be half of a bank’s Global Systemically Important Bank surcharge, cutting headline capital requirements while reaffirming risk-based capital rules as the primary binding constraint for banks. Supporting data: The new rule cuts banks’ Tier 1 capital needs by less than 2% for the GSIBs, but
Regulators finalize revised leverage rule for big banks Read More »
A federal grand jury is examining the handling of the mortgage fraud investigation into Sen. Adam Schiff of California according to a subpoena to a witness in the case. The subpoena was sent to Republican activist Christine Bish, who appeared before the grand jury in Maryland Nov. 20. It asked her for any communications and
DOJ examining handling of Schiff mortgage investigation Read More »
Bloomberg News What’s at Stake: The court filing comes after Vought said last week that he will not request funding for the CFPB and that the agency will run out of the money in early 2026. Key Insight: The district court issued a broad preliminary injunction in March that prohibited the Trump administration from mass
CFPB’s union asks for clarification on Vought injunction Read More »
Al Drago/Bloomberg Key Insight: The Consumer Financial Protection Bureau’s new “Humility Pledge” is mandated for all supervisory examiners, with a focus on pressing threats to consumers, particularly service members and veterans. What’s at Stake: The CFPB said it wants to avoid duplication of supervision with state regulators and reduce the 8-week exam cycle. Expert
CFPB says bank supervisors must take ‘humility oath’ Read More »
Key Insight: Federal Reserve Gov. Lisa Cook says emerging risks are arising over how artificial intelligence may influence financial markets. Expert quote: “Recent theoretical studies find that some AI-driven trading algorithms can indeed learn to collude without explicit coordination or intent, potentially impairing competition and market efficiency.” — Federal Reserve Gov. Lisa Cook. What’s at
Fed’s Cook sees risk in gen AI-manipulated financial trading Read More »
Aaron Schwartz/Bloomberg Key Insight: Federal Reserve Gov. Stephen Miran said certain bank regulations are preventing the Fed from further shrinking its balance sheet. Expert Quote: “Trying to settle the ongoing debates on how monetary policy is best implemented before settling the regulatory framework is putting the cart before the horse.” — Federal Reserve Gov. Stephen
Fed’s Miran: Banks should hold more Treasuries, less reserves Read More »
The Structured Finance Association is joining Rep. Scott Fitzgerald, R-Wis., and others as support builds for the SEC to take another look at a rule that could reshape the mortgage securities market. The SEC has requested comment on the Reg AB II rule that’s generally shut private-label residential mortgage-backed securities issuers out of the public
SFA hopes to bring back public RMBS from private issuers Read More »
Takeaways: Large insurers would have to assess and disclose climate risks Proposal requires risk projections for next three decades Advocates want more risk mitigation efforts and disclosures California insurance commissioner Ricardo Lara’s proposed Long-Term Solvency Regulation, announced October 28, has insurers criticizing its provisions while consumer advocacy groups call for more disclosures and climate mandates.
Industry, advocates react to California’s proposed insurer solvency rules Read More »
Amerisave Mortgage faces a new class action lawsuit that alleges it violated the Telephone Consumer Protection Act after it attempted to contact an individual on the Do Not Call registry. In documents filed in federal court in the Northern District of Georgia late last month, attorneys for plaintiff Erin Wilson noted she had listed her
Amerisave hit with new TCPA class action suit Read More »