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House Votes to Overturn CFPB's Arbitration Rule

6/25/2017 House lawmakers voted to overturn the Consumer Financial Protection Bureau’s controversial final arbitration rule by a vote of 231 to 190, exercising their authority under the Congressional Review Act to reject new federal regulations within 60 legislative days of publication in the Federal Register.

Community Bankers Meet with President Trump to Discuss Regulatory Challenges

​WASHINGTON — A diverse group of community bankers from across the country met with President Trump today to discuss how the current regulatory environment affects their ability to serve customers and drive economic growth.

Among the attendees were ABA President and CEO Rob Nichols, ICBA President and CEO Camden R. Fine, and nine bankers, including ABA officers and several members of key ABA committees. Topics of discussion included the importance of tailored regulation, the need to hold the Consumer Financial Protection Bureau more accountable, regulatory changes to increase small business and mortgage lending, the impact of compliance burden, and the need to ensure regulatory capital standards are aligned with actual risks and conducive to credit availability.

President Signs Executive Orders Concerning Banking Industry

President Donald Trump signed executive orders this morning that deal directly with the banking industry's most difficult obstacle for success. The executive order mandates a comprehensive review of all regulations stemming from the Wall Street Reform and Consumer Protection Act – commonly referred to as "Dodd-Frank."

The order directs the Department of Labor to stop implementing the so-called fiduciary rule. Earlier this week, the president called Dodd-Frank a "disaster" and vowed to "do a big number on it."

Governor Sandoval's State of the State Adddress

January 17, 2017 Nevada Governor Brian Sandoval delivered his State of the State speech outlining his priorities for the 2017 Legislative Session. Readers may access a transcript of Governor Sandoval's speech here.

Highlights:

Executive Order Suspends New Regulations

On January 23, 2017, Politico published a letter sent by Donald Trump's Assistant and Chief of Staff Reince Preibus to the heads of executive departments and agencies putting a hold on new regulations. The following are the primary directives in the memo, intended to ensure that appointees of the new President have the chance to put their stamp on anything new. 

U.S. Court of Appeals Finds CFPB Structure Unconstitutional

The recent opinion issued today by the U.S. Court of Appeals for the District of Columbia Circuit finds for PHH Corporation against the Consumer Financial Protection Bureau (CFPB).