Financial regulations

The industry had welcomed the Consumer Financial Protection Bureau plan allowing debt collectors to use electronic communication, but some worry about the effect of a court decision concerning email correspondence.

The three federal banking agencies moved to raise the threshold for residential transactions that require an appraisal from $250,000 to $400,000.

New plans for a ballot initiative in November 2020 threaten to overturn concessions that financial institutions, tech firms and other companies have won from state lawmakers.

The National Credit Union Administration caught flak after it approved raising the threshold for appraisals on commercial real estate loans to $1 million.

Freedom Northwest in Idaho hopes a proposal from the NCUA will help it bring in more deposits to fund a fast-growing mortgage business. Banks are crying foul.

Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.

As the CFPB moves closer to updating its debt collection regulations, revising restrictions on phone calls and other communications with consumers must be a priority.

In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.

The administration is sending conflicting signals on whether it has a plan to overhaul the housing finance system, further complicating an already complex debate.

Ocwen Financial subsidiary PHH Mortgage will pay a total of $750,000 to six military members and increase employee training to settle Department of Justice allegations that it conducted foreclosures that violated the Servicemembers Civil Relief Act.

Federal Reserve Board Gov. Lael Brainard said public comments demonstrate a desire among stakeholders for reforms to be implemented consistently across the Fed, OCC and FDIC.

A proposal allowing more lenders to skip outside appraisals could remove a hurdle to quick closings, but appraisers say they could be collateral damage.

Regulators typically write rules before applying them. But the CFPB is attempting the reverse.

The presumptive chair of the House Financial Services Committee will likely take the panel in a sharply new direction and have a new bully pulpit to criticize the Trump administration.

Federal regulators have issued answers to frequently asked questions on appraisal regulations.

The central bank said the proposal is intended to eliminate duplication of rules for entities covered by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.

Comptroller of the Currency Joseph Otting writes that the Community Reinvestment Act has not kept pace with changes in banking and needs to be updated.

Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau.