There’s been speculation that when the Trump administration picks Watt’s successor, one of the first things that person might do is impose a loan-size purchase limit on the two government-sponsored enterprises.
Democrats are howling after Mick Mulvaney’s blatant “pay to play” comments at a banking industry event last week, calling for him to step down as acting director of the CFPB. Mulvaney said in a speech to the American Bankers Association that he only met with lobbyists who gave him financial donations when he served on Capitol Hill. “We had a hierarchy in my office in Congress,” said Mulvaney, former member of the House of Representatives from South Carolina. “If you’re a lobbyist who never ...
The month long deadlock in Congress over the bill to roll back various parts of the Dodd-Frank Act might soon end following an offer by the House GOP to pass the bill in its current form, signaled by Rep. Jeb Hensarling, R-TX. “I’d be happy to attend multiple signing ceremonies in the White House,” said Hensarling, who has previously expressed his desire to add dozens of House bills to the Senate-passed reg relief bill. In remarks at a U.S. Chamber of Commerce event, he added ...
The CFPB last week finalized a proposed amendment to its “Know Before You Owe” rule, fixing what is commonly known in the industry as the “black hole” issue. The final rule adopts a July 2017 proposal with only minor, technical changes. In broad terms, it gives lenders more flexibility in issuing revised closing disclosures that comply with the complex disclosure requirements mandated by Truth in Lending Act and Real Estate Settlement Procedures Act ...
RSS