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Compliance/Regulatory - Banking Exchange
The BPI and ABA also released a statement saying the “changes would inflict serious harm”
President and CEO Rob Nichols said proposed rules threaten affordable deposit account products
The associations argued the CFPB’s proposal does not go far enough
The banking organizations wrote to the CFPB about the proposed redefinition of digital assets
The regulator also published guidance on ‘Buy Now, Pay Later’ lending
The bank said it “respectfully disagrees” with the decision
Report from the FDIC’s Office of the Inspector General found the agency should have taken earlier action
The CFPB has levied the fine for failing to collect information on some mortgage applications
The regulations would ensure nonbank financial companies adhere to the same rules as large banks and credit unions
Governor Michelle Bowman urged policymakers to consider the risks of regulatory reforms
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