AFSA University recently released a new module on vendor management. The module addresses the Consumer Financial Protection Bureau’s expectations that financial institutions have an effective process for managing the risks of service provider relationships.
Transition Tracker | Former Rep. Neugebauer Discusses Importance of Credit Access with President-elect
Jan 12, 2017
Yesterday, President-elect Trump met with former Congressman Randy Neugebauer (R-TX), who is among those under consideration to head the Consumer Financial Protection Bureau (CFPB) if Trump removes current director Richard Cordray.
House Financial Services Committee Ranking Member Maxine Waters (D-CA) announced the appointment of four freshman Democrats to the House Financial Services Committee to replace members who have joined other committees or left office: Reps. Josh Gottheimer (NJ), Vicente Gonzalez (TX), Charlie Crist (FL), and Ruben Kihuen (NV).
Transition Tracker | House Passes REINS Act
Jan 09, 2017
On Friday, Politico reported that House Judiciary Committee Chairman Bob Goodlatte (R-VA) is working closely with the incoming Trump administration to pass regulatory change legislation.
Committees in both the House and the Senate are important because they craft and debate legislation before it heads to the full body for a vote. AFSA focuses on contacting and cultivating working relationships with committee members and their staffs to ensure that access to safe, responsible consumer credit is front of mind at the “ground floor” of legislation.
Yesterday, the 115th Congress was sworn in and House Speaker Paul D. Ryan (R-WI) was easily elected Speaker of the House of Representatives. There was a sole dissenting vote for the Speaker’s election by Rep. Thomas Massie (R-KY) who cast his ballot for Rep. Daniel Webster (R-FL). Rep. Nancy Pelosi (D-CA) was easily reelected as the minority leader.
President-elect Donald Trump has nominated U.S. Representative Mick Mulvaney, a South Carolina Republican, to be the head of the Office of Management and Budget (OMB).
CFPB Communications Director Jen Howard told Politico Pro in an email today that Richard Cordray “has no plans” to leave his job as director of the CFPB.
New York Imposes Extensive Requirements for Maintenance of Vacant and Abandoned Properties
Dec 19, 2016
New regulations issued by the New York Department of Financial Services (NYDFS) that require mortgage lenders and servicers to inspect, secure and maintain residential properties that are believed to be vacant and abandoned took effect on Tuesday. The regulation expands on a law Governor Andrew Cuomo signed in June. In addition to the regulation, the NYDFS published a Residential Foreclosure Actions Consumer Bill of Rights.
Below is a summary of cabinet appointees who will have an influence on financial services, what they might do in the financial services industry, and how their confirmation process might go.