An outside advisor to President Donald J. Trump, Corey Lewandowski, said Sunday (July 30) that Consumer Financial Protection Bureau (CFPB) Director Richard Cordray should be fired. According to a news report in Reuters, Lewandowski, Trump’s former campaign manager, took issue with the CFPB rule that makes...
Varo Money, the digital banking fintech that has investment backing from Warburg Pincus, filed for a national banking charter and deposit insurance, putting the Trump administration’s policy to extend bank charters to fintechs to the test. According to a report in the Wall Street Journal,...
Banks’ bottom lines may get a boost from deregulation from Capitol Hill. Barron’s noted this past weekend that a spate of proposals to roll back at least some regulatory requirements would, should they make it across various legislative hurdles, make lending a bit easier and...
Earlier this month, NACHA–The Electronic Payments Association sent its Government Relations Advisory Group on its annual pilgrimage to Capitol Hill. The purpose of Capitol Hill Day is to provide updates and continued education to Congressional representatives and staff regarding the ACH Network, payments, and the...
Out with the Wells Fargo directors. That’s a call being made by Massachusetts Sen. Elizabeth Warren, who on Monday said Federal Reserve Chairwoman Janet Yellen should remove the dozen executives sitting on the board of the beleaguered bank. Those individuals were at the helm of...
Dodd-Frank era reforms may get further pushback in the wake of a new Treasury report, even as the CFPB, in that report’s cross-hairs, keeps on chuggin’ when it comes to prepaid card regulation. Technology may be elementary to tracking regulations, Watson.
Big picture thinking dominated news surrounding financial services and payments regulations this past week. In the U.K., a contentious election brought “hard” and “soft” Brexit into question, while Dodd-Frank got a vote down by the United States House of Representatives — and next stop, the Senate....
In the halls of Congress and in the halls of Wall Street it wasn’t all about Comey Thursday. The House of Representatives approved a bill (helmed by Republican Rep. Jeb Hensarling) aimed at reversing, at least in part, Dodd-Frank, the post-financial crisis legislation that instituted...
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon will not be stepping down from the president’s Strategic and Policy Forum, despite criticism of his alleged support for President Donald Trump. “I would try to help any president of the United States, because I’m a...
