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.

Wall Street welcomes Trump’s shift on regulation

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Pawlenty to leave FSR, industry reacts

After more than five years at the helm for the Financial Services Roundtable (FSR), former Minnesota Gov. Tim Pawlenty recently announced that he will step down from his post in March.

Pawlenty indicated in a press release that he believes he is leaving the advocacy organization as it is well-positioned for future success.

What CFPB gained, lost in constitutionality case

A federal appeals court handed a major victory — and a significant defeat — to the Consumer Financial Protection Bureau by upholding its constitutional structure while also slapping down the agency's practice of making new interpretations of law through enforcement actions.