It’s Monday, June 2 and at this writing the ultimate fate of Rule 1033 — the so-called “open banking” rule set in motion last year by the Consumer Financial Protection Bureau (CFPB) — remains in limbo. Kentucky remains ground zero for what happens. But the...
The recent finalization of data-sharing rules may have sharpened the debate over risks and rewards of Section 1033 — to consumers, banks and FinTechs — and the rule has drawn its share of critics and legal actions. But during a discussion at Money 20/20 held...
The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase, effective Jan. 1, 2025. The exemption threshold for special appraisal requirements for “higher-priced mortgage loans”...
Open banking — relatively well-entrenched in Europe, nascent here in the United States — is taking shape largely by directive, through regulations and standards that give a roadmap to how financial data is permissioned by consumers and shared with financial services providers. At the center...
June 02, 2025
It’s Monday, June 2 and at this writing the ultimate fate of Rule 1033 — the so-called “open banking” rule set in motion last year by the Consumer Financial Protection Bureau (CFPB) — remains in limbo. Kentucky remains ground zero for what happens. But the timeline could stretch out for a few more months. As […]
September 17, 2024
Open banking — relatively well-entrenched in Europe, nascent here in the United States — is taking shape largely by directive, through regulations and standards that give a roadmap to how...
January 27, 2020
For the Consumer Financial Protection Bureau (CFPB), 2020 may be a landmark year. There’s the looming question over the agency’s very constitutionality, recent definitions of what equates to “abusive” practices...
June 07, 2018
Community banking is one of the most rewarding areas of financial services in which to work, according to Rebeca Romero Rainey, the new president and CEO of ICBA. The environment...
July 16, 2025
America’s Credit Unions called on Congress to reform the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB), which was created by the act. In a Monday (July 14) letter addressed to Rep. French Hill, R-Ark., and Rep. Maxine Waters, D-Calif., the trade association said the act and the CFPB have practiced “regulatory overreach.” Hill […]
October 15, 2024
The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase,...
February 06, 2020
The chairwoman of the U.S. House Committee on Financial Services, Maxine Waters, told the head of the Consumer Financial Protection Bureau (CFPB), Kathy Kraninger, that the organization needs to do...
July 13, 2018
U.S. Representative Patrick McHenry thinks it’s time for the GOP to move on from its mission to kill the Dodd-Frank Act. McHenry, a front-runner to become the next chairman of...