From: Bloomberg
By Elizabeth Dexheimer
From: PYMNTS.com
Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation who is leaving the government agency, expressed concern that regulators may be doing too much to roll back rules that were put in place after the Great Recession and financial crisis.
According to a news report in Reuters, citing comments Gruenberg made at a forum on regulation and markets, he believes the existing rules have made the country’s banking industry safer without impacting the profitability of U.S. financial institutions. “The danger is that changes to regulations could cross the line into substantial weakening of requirements,” the government official said. “Let’s be clear: Our largest banking organizations are not voluntarily holding the enhanced capital and liquid asset cushions required by current rules.”
From: Bloomberg
By Yalman Onaran
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Arthur Lindo says regulators backing away from 2016 proposal
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Government needs to co-operate with private sector, he says
More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said.
“I don’t think the solution to the cybersecurity problem rests in regulation,” Arthur Lindo, senior associate director of the Fed’s division of supervision and regulation, said Monday at a banking conference in New York. “We’re going to try a more flexible approach.”
From: RealClearEducation
A settlement between the Consumer Financial Protection Bureau (CFPB) and Donald Uderitz, owner of Vantage Capital Group (VCG), has major implications for students with loan debt. Based on media coverage of the settlement, most casual readers might believe that hundreds of thousands of former students may see their student debt wiped away—all thanks to administrative errors by the trust holding the debt, National Collegiate Student Loan Trusts (NCSLT). Unfortunately, this narrative oversimplifies what appears to be an attempt by the CFPB to provide Uderitz with lucrative responsibilities using extrajudicial means.