01.04.18
2017 was a great year for banks across a wide spectrum, and we believe 2018 holds tremendous promise, so long as the credit condition of borrowers does not deteriorate and banks continue to lend prudently. Below we count down the top five takeaways in banking in 2017.
12.28.17
More Consumer Financial Protection Bureau rules may be reversed as lawmakers moved to dismantle both the payday loan rule and the auto lending rule.
The New York Court of Appeals will consider the state’s law prohibiting merchants from imposing credit card surcharges, following certification of that question by the Second Circuit, on remand from the U.S. Supreme Court.
Finding the action unripe, a federal court judge has dismissed the New York Department of Financial Services’ (DFS) challenge to the Office of the Comptroller of the Currency’s (OCC) decision to grant special purpose national bank charters.
The Department of Defense (DoD) released a new interpretive rule under the Military Lending Act (MLA), building on prior interpretive guidance.
In an attack on heavily criticized practices from Operation Choke Point, the House of Representatives passed a bill that would place limits on federal bank regulators ordering account closures.
12.22.17
In an explosive letter to Attorney General Jeff Sessions, a former Consumer Financial Protection Bureau (CFPB or Bureau) employee claims that her former bosses asked her to falsify records in a payday lender examination that resulted in a multimillion-dollar settlement.
12.14.17
The House Financial Services Committee, by a vote of 42 to 17, passed a bill that would affect a “Madden fix,” moving the legislation forward to the full House of Representatives for consideration.
Although the first round in the battle over leadership of the Consumer Financial Protection Bureau went to President Donald Trump’s pick for the position, the fight continues, leaving the CFPB’s ongoing work very unsettled.
In a push for increased cybersecurity vigilance, the Securities and Exchange Commission indicated its plans to amend existing data security guidance, including the reporting of data breaches.