FCW.com: “…Created by the 2010 Dodd-Frank law, the Consumer Financial Protection Bureau is one of the first federal examples of bringing in outside tech talent to deliver government services. “If you’re going to build a government agency from scratch, you’re going to get the chance to do things differently,” one former CFPB senior official told… Continue Reading
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Search Results for: Dodd-Frank
CRS – Regulatory Reform 10 Years After the Financial Crisis
Via FAS – Regulatory Reform 10 Years After the Financial Crisis: Systemic Risk Regulation of Non-Bank Financial Institutions. Jay B. Sykes, Legislative Attorney. April 12, 2018. “When large, interconnected financial institutions become distressed, policymakers have historically faced a choice between (1) a taxpayer-funded bailout, and (2) the destabilization of the financial system—a dilemma that commentators… Continue Reading
CRS – Banking Policy Issues in the 115th Congress
Banking Policy Issues in the 115th Congress, David W. Perkins, Analyst in Macroeconomic Policy. March 7, 2018. “The financial crisis and the ensuing legislative and regulatory responses greatly affected the banking industry. Many new regulations—mandated or authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) or promulgated under the authority of… Continue Reading
CBO Warns Bipartisan Bank Bill Heightens Risk of Financial Crisis
The Intercept: “The Congressional Budget Office confirmed on Monday [March 5, 2018] that bank lobbyists had successfully altered language of the so-called Citigroup carve-out, potentially allowing mega-banks Citi and JPMorgan Chase to add leverage and put more debt-fueled risk on their balance sheets. CBO gave Citi and JPMorgan a 50 percent chance of convincing regulators… Continue Reading
Crapo, Hensarling File Amicus Brief in Support of CFPB Acting Director Mulvaney
Follow-up to recent posting – CRS – D.C. Circuit Upholds as Constitutional the Structure of the CFPB – news from Congress – On March 2, 2018, “38 Senators and 75 Representatives, led by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and House Financial Services Committee Chairman Jeb Hensarling (R-Texas), filed an amicus brief in support… Continue Reading
How to Spot a Whistleblower and Prevent Retaliation: 10 Tips
Law.com (sub. req’d) How to Spot a Whistleblower and Prevent Retaliation: 10 Tips: “Each year, employers face increased risk of retaliation claims from self-styled “whistleblowers.” These individuals may file lawsuits using a variety of federal laws, including Sarbanes-Oxley (SOX) and the Dodd-Frank Act, as well as similar state laws.” Continue Reading
Financial Stability Oversight Council (FSOC): Structure and Activities
CRS Report – Financial Stability Oversight Council (FSOC): Structure and Activities. December 22, 2017 – February 12, 2018 R45052 “The Financial Stability Oversight Council (FSOC) and its Office of Financial Research (OFR) were established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) to address several potential sources of systemic risk. Some… Continue Reading
Economic Growth, Regulatory Relief, and Consumer Protection Act and Selected Policy Issues
CRS report – Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and Selected Policy Issues. January 10, 2018. R45073. “Some observers assert the financial crisis of 2007-2009 revealed that excessive risk had built up in the financial system, and that weaknesses in regulation contributed to that buildup and the resultant instability. In response,… Continue Reading
CRS Update: Who’s the Boss at the CFPB?
UPDATE: Who’s the Boss at the CFPB? – Valerie C. Brannon Legislative Attorney Jared P. Cole Legislative Attorney. January 11, 2018. “Update: On January 10, 2018, the U.S. District Court for the District of Columbia denied Leandra English’s request for a preliminary injunction, ruling that the Federal Vacancies Reform Act (Vacancies Act) authorized the President to… Continue Reading
Financial Stability Oversight Council: Structure and Activities
CRS report via FAS – Financial Stability Oversight Council (FSOC): Structure and Activities. Jeffrey M. Stupak, Analyst in Macroeconomic Policy. December 22, 2017. Summary: “The Financial Stability Oversight Council (FSOC) and its Office of Financial Research (OFR) were established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111- 203) to address several… Continue Reading
Consumer Protection Bureau Now Has Two Interim Acting Directors
The New York Times: “Mick Mulvaney, President Trump’s budget director, was named the acting director of the Consumer Financial Protection Bureau on November 24, 2017…moving to take control of the agency hours after its departing leader had taken steps to install his own choice for acting chief. By the end of the night, an agency… Continue Reading
Who Regulates Whom? An Overview of the U.S. Financial Regulatory Framework
CRS – Who Regulates Whom? An Overview of the U.S. Financial Regulatory Framework, August 17. 2017. “The financial regulatory system has been described as fragmented, with multiple overlapping regulators and a dual state-federal regulatory system. The system evolved piecemeal, punctuated by major changes in response to various historical financial crises. The most recent financial crisis… Continue Reading
