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5 takeaways from Treasury’s call to action on CRA

WASHINGTON — Bank regulators are gearing up to modernize their policy on Community Reinvestment Act enforcement, but the CRA reform effort appeared to benefit from a jump-start Tuesday thanks to the Treasury Department.

Industry representatives, analysts and consumer advocates all praised the Treasury report recommending a slew of CRA reforms that could serve as a jumping off point for regulators that seemed poised for another attempt at updating their decades-old policy.

Mick Mulvaney, Consumer Bureau’s Chief, Urges Congress to Cripple Agency

WASHINGTON — In his first report to Congress as the acting director of the Consumer Financial Protection Bureau, Mick Mulvaney called on lawmakers on Monday to cripple the agency that he has been temporarily tasked with overseeing.

CFPB Report Advocates Structural Changes Short of a Bipartisan Commission

The Consumer Financial Protection Bureau released its annual report on Monday, and it includes four legislative policy recommendations that would erode the agency’s independence and make it more beholden to political institutions.

Rules for Lending to the Poor Under Review

The Trump administration kicked off plans to revamp lending rules in lower-income communities with a proposal that would make it easier for banks to comply with a decades-old law that has long confounded the industry.

Bipartisan Group Introduces Bill to Rename CFPB, Replace Director With 5-Person Commission

A bipartisan group of two Democrats and two Republicans in the House of Representatives introduced a bill yesterday that would replace the single director of the Consumer Financial Protection Bureau with a five-person commission.

Bipartisan House bill would replace consumer director with panel

A bipartisan group of House members on Wednesday released a bill that would replace the director of the controversial Consumer Financial Protection Bureau (CFPB) with a five-person commission.

Banks Look to Break Government’s Hold on Student-Loan Market

Private lenders are pushing to break up the government’s near monopoly in the $100 billion-a-year student-loan market.

The banking industry’s main lobbying group, the Consumer Bankers Association, is pressing for the government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition.

Banks, retailers point fingers as lawmakers revisit data security bill

WASHINGTON — Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill.

Bank and credit union trade associations sent a letter to House lawmakers on Wednesday supporting a data security proposal being put forward by Reps. Blaine Luetkemeyer, R-Mo., and Carolyn Maloney, D-N.Y.

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