All articles by Joe Mont – Page 43
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Blog
Justice Dept. joins fight against ‘unconstitutional’ CFPB
Friend has turned foe as the Justice Department, under the Trump Administration, has reversed course and is now arguing that the CFPB is unconstitutional.
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CFTC extends comment period for new capital requirements
The CFTC will extend the comment period on proposed capital requirements for swap dealers for an additional 60 days. The original comment period was set to expire this week.
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CFPB pitches date extension for prepaid accounts rule
The CFPB is looking to delay the effective date of a recent rule governing prepaid accounts by six months. The rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost and resolve errors.
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CFPB levies its largest ever mortgage reporting penalty
With its largest ever penalty under the Home Mortgage Disclosure Act, the CFPB has ordered Texas-based Nationstar Mortgage to pay a $1.75 million civil penalty.
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Trump nominee pledges ‘new direction’ for CFTC
Acting Commodity Futures Trading Commission Chairman J. Christopher Giancarlo was nominated by President Trump to officially head the agency this week. Awaiting Senate confirmation, he has already detailed bold reforms for the Commission.
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Trump initiates sweeping overhaul of government agencies
President Donald J. Trump has unveiled a “comprehensive plan for reorganizing the executive branch,” an overhaul of federal agencies intended to cut federal spending and reduce redundancies.
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SEC nominee faces conflict of interest questions
As he prepares to testify before the Senate Banking Committee on March 23, President Trump’s pick to serve as SEC chairman is facing questions about potential conflicts of interest he may face.
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Another Goldman Sachs alumni nominated for top Treasury post
With Secretary of the Treasury Steve Mnuchin now in place, the Trump Administration is looking to add another Goldman Sachs executive to a top post at the Treasury Department. James Donovan, a managing director at Goldman Sachs, has been nominated as deputy secretary.
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SEC gets serious about investor-friendly disclosures
Investors, especially those lacking financial literacy skills, may soon benefit from the SEC’s efforts to modernize its disclosure regime and filing requirements.
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ArticleGone in a snap? Tech IPO swipes away shareholder voting
The decision by the founders of Snap, parent company of Snapchat, to issue no-vote shares has riled critics and surfaced new corporate governance concerns.
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State Street to 3,500 boards: embrace gender diversity
State Street Global Advisors is calling upon more than 3,500 companies it invests in “to take intentional steps to increase the number of women on their corporate boards.”
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Glass-Steagall talk persists as Trump meets with community banks
Even as President Trump was promising community bank executives regulatory relief, talk of a new Glass-Steagall Act sent bank stocks tumbling on Thursday.
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Bill seeks to enhance public participation in rulemaking
The House of Representatives has passed a bill that seeks greater transparency and objectivity to the process of regulatory rulemaking.
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Democrats seek arbitration release for Wells Fargo customers
Congressional Democrats are supporting legislation that would give victims of fraud by Wells Fargo release from forced arbitration clauses that otherwise prevent them from suing the bank.
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Sen. Brown asks Treasury to probe President’s business ties
U.S. Sen. Sherrod Brown (D-Ohio) has asked the Treasury Department to review President Trump’s investment partners and business associates to assess whether there are violations of anti-terrorist financing, sanctions, or money laundering laws.
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Senate Banking Committee schedules Clayton hearing
President Donald J. Trump’s pick to serve as SEC chairman, Jay Clayton, will testify before the Senate Banking Committee on March 23, a prelude to confirmation by the full Senate.
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Blog
President Trump poised to kill 'blacklisting rule'
President Trump is expected to finalize Congressional action that kills the Obama Administration’s so-called “blacklisting rule” for federal contractors, a requirement that they disclose labor law, civil rights, and wage violations.
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Article
Crowdfunding risks put spotlight on investor protection
Crowdfunding is a revolutionary tool for capital formation. Dealing with its risks may provide a catalyst for fresh thinking about investor protections.
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Article
Risk management, best practices are even more crucial in an era of deregulation
A company’s biggest asset is its reputation, and scaling back regulations themselves will do little to protect against the outrage of the public, the media, and marketplace rivals.
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SEC revisits decades-old bank disclosure guide
The SEC has launched a review of "Industry Guide 3 - Statistical Disclosure by Bank Holding Companies," and will look to update disclosure requirements last itemized in 1976.