Bloomberg, Oct. 21, 2019–Hannah LevittMore than half of the world’s banks are too weak to survive a downturn, according to a survey from consultancy McKinsey & Co. A majority of …
Category: Top National News
Will Supreme Court Decision Threaten CFPB Independence?
HousingWire, Oct. 21, 2019–Kelsey RamirezVarious groups are torn on the Supreme Court’s decisioni to hear the case, with some saying a committee to head the bureau will keep it more …
BankThink–Let’s Get Housing Reform Right This Time
American Banker, Oct. 21, 2019–Robert Broeksmit, CMB, et alMBA President and CEO Robert Broeksmit, CMB and leaders of other major industry trade associations pen letter urging policymakers to take “thoughtful …
Pelosi, Waters Defend CFPB’s Constitutionality in Supreme Court Brief
National Mortgage News, Oct. 8, 2019–Kate Berry (subscription)Pelosi and Waters, both California Democrats, filed an amicus brief this week defending the CFPB’s single-director leadership structure and language in the Dodd-Frank …
Trump to Curb Use of Federal Guidance in Issuing Regulations
Wall Street Journal, Oct. 8, 2019–Andrew Restuccia (subscription)President Trump is planning to sign a pair of executive orders on Wednesday meant to limit the use of a tool that the …
FEMA May Have to Buy Milions of Homes Due to Climate Crisis
National Mortgage News, Oct. 9, 2019As the climate crisis worsens, more Americans will be forced from their homes. Many won’t be able to afford it, and the U.S. isn’t prepared …
Federal Reserve Gives Large Banks a Break on Postcrisis Rules
Wall Street Journal, Oct. 10, 2019–Andrew Ackerman (subscription)The Federal Reserve on Thursday was set to complete rules aimed at easing liquidity and capital rules for large U.S. banks, signing off …
Citi Fined $30 Million over How it Handled Foreclosed Property
National Mortgage News, Oct. 11, 2019–Brenan Pederson (subscription) The Office of the Comptroller of the Currency is fining Citigroup’s bank subsidiary $30 million over claims that it repeatedly violated federal …
No Mortgage: Single-Family Homes Built to Rent, Not to Buy
NPR, Oct. 7, 2019–Chris ArnoldIn the past year, developers around the country built more than 40,000 homes as single-family rentals.
Ruling Cuts Short Debt Collectors’ Victory Lap over CFPB Proposal
National Mortgage News, Oct. 7, 2019–Kate Berry (subscription)Debt collectors notched a victory when the Consumer Financial Protection Bureau proposed allowing more use of electronic communication. But industry lawyers are worried a recent court decision could thwart that plan.