Dodd-Frank Act

The Consumer Financial Protection Bureau CFPB and Federal Trade Commission (FTC) announced January 23 that they have signed a memorandum of understanding (MOU) to coordinate efforts to protect consumers and avoid duplication of federal law...

Of all the complicated and controversial provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act, perhaps none can top the Volcker Rule. The financial regulators’ proposal implementing the rule runs to nearly 300 pages and...

It was bad enough when community banks were hit with the massive Dodd-Frank Wall Street Reform and Consumer Protection Act, even though it was not their activities that brought on the financial crisis. Now community banks face still more trouble...

The Federal Reserve recently announced in Consumer Affairs Letter CA 11-8 that the Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council has updated the Regulation Z interagency examination procedures to...

Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act as a response to the collapse of several large financial institutions. As Dodd-Frank proceeded through the legislative process, it bloated into a massive hodgepodge of...

Four agencies — the Fed, FDIC, OCC and SEC — have extended by one month, to January 13, the comment period on their proposal to enact the Volcker Rule. The rule implements a key provision of the Dodd-Frank Act.

The relevant...

A few weeks ago, we wrote an article (“Blog Versus Blog: Small Banks in the Dodd-Frank Crossfire”) in which we covered Deputy Treasury Secretary Neal Wolin’s promise to dismantle the myths around Wall Street reform. Myth #1 on Wolin’s...

How’s Dodd-Frank doing? It depends on whom you ask, judging from the Senate Banking Committee’s December 6 oversight hearing on the controversial legislation. Democrats support the bill, while Republicans take a much dimmer view. Members of...

Congress didn’t intend the Dodd-Frank Act to hasten the demise of community banking but, judging from recent Congressional testimony by some bankers, that may be exactly what the mammoth banking bill is doing. Community bankers warned...

On November 29, the Office of the Comptroller of the Currency (OCC) proposed a rule to remove references to credit ratings from various OCC regulations. The OCC also proposed related guidance to assist national banks and federal savings...

The Consumer Financial Protection Bureau is requesting suggestions for streamlining regulations it recently inherited from other federal agencies.

In the coming weeks, the CFPB plans to republish the regulations it inherited under the...

The Dodd-Frank Act’s Durbin Amendment was supposed to be a big win for retailers but, apparently, it hasn’t worked out that way.

On November 22, just three weeks after the Federal Reserve Board’s implementing rule went into effect,...

The CFPB had effective internal control over financial reporting as of September 30, 2011, according to a report issued by the Government Accountability Office.

Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act...

The Consumer Financial Protection Bureau (CFPB) doesn’t have a Director yet (the President has nominated Richard Cordray to that job, but Republican Senators are blocking his confirmation). However, that fact isn’t slowing the agency down....

Federal bank regulators will be implementing the specific stress testing requirements of Dodd-Frank over the next year, Federal Reserve Governor Daniel K. Tarullo said during the recent Clearing House Business Meeting and Conference in New...

How’s implementation of the Dodd-Frank Act going? The Government Accountability Office sees room for improvement, judging from a report issued November 10.

The GAO report recommends that the financial regulators and the Financial...

Under terms of the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) will have exclusive authority to examine large financial institutions and their affiliates for compliance with federal consumer protection laws. The traditional...

Small banks are stuck in the continuing Dodd-Frank Act crossfire between the Obama Administration and Republicans.

The war of words over Dodd-Frank flared up again Monday, October 17, when Deputy Treasury Secretary Neal Wolin issued the...

Deputy Treasury Secretary Neal Wolin is maintaining a blog where he says he is busting the myths others spread about the Dodd-Frank Act. Myth #2 on Wolin’s list is what he calls the “puzzling” claim that Dodd-Frank puts U.S. institutions at...

Less than a month after attacking Bank of America for imposing a monthly debit card user fee, Sen. Dick Durbin (D-Ill.) is at it again. This time, he has turned his attention toward Wells Fargo. The Senator, author of the Durbin Amendment...