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Described by a former CFPB official as a move that “defangs the watchdog and instead turns the office into a lapdog for the industry” acting director Mulvaney last week announced that the Bureau’s student... Read More
It seems almost everyone in finance is cheering on the deregulation frenzy in Washington and the demise of consumer protection and enforcement in the financial markets.  Given that an historic crash happened just ten... Read More
Along with many, many others, we took note of CFPB acting director Mick Mulvaney’s recent remarks to the American Bankers Association, but not for the same reason.  There’s no denying that his comments about... Read More
In an effort to bring a new weapon to their fight, opponents of common sense regulations of all types are seeking to use the Congressional Review Act in a new, untested, and dangerous way that could potentially threaten... Read More
Fed Vice Chairman for Supervision Randy Quarles in testimony before the House Financial Services Committee and the Senate Banking Committee made it clear that the pace of deregulation will be increasing at the key... Read More
Wall Street’s biggest banks keep breaking records for revenues, profits and lending.  While all the banks’ first quarter results were uniformly pretty terrific, some were historically good.  For... Read More
When you put your hard-earned money at risk by providing it to a broker for advice, shouldn’t he or she have to act in your best interest when giving you that advice?  That would be a... Read More
This morning, Securities Exchange Committee (SEC) Chairman Jay Clayton will be testifying before a House Appropriations Subcommittee to discuss the fiscal priorities of the SEC for the 2019 Fiscal Year. Though it is... Read More
As we have been saying for a long time, Federal Reserve Chair Jay Powell stated after a speech to the Economic Club of Chicago that he does not see any proof that post-2008 crisis regulation have hurt the biggest... Read More
After a lengthy, secretive and controversial process, the Federal Reserve Bank of New York has a new President: John Williams, currently the president of the Federal Reserve Bank of San Francisco. The criticism of the... Read More
When the Dodd-Frank financial protection law was passed in 2010 -- and virtually nonstop since then -- the financial industry and its political allies have claimed that it would kill banks’ revenue, profits and ability... Read More
A provision tucked into the spending bill this week illustrates so much of what’s wrong with the current wave of financial de-regulation we’re witnessing.  It means more risk for everyday investors,... Read More
We couldn’t agree more with Fed Chairman Jay Powell’s view of the critical role of bank boards of directors (as stated in a speech last August when he was a Governor): “We need financial... Read More
First, this is not the priority of the American people, but it is why they think Washington is out-of-touch and corrupt.  Matt Yglesias has a must-read piece in Vox concisely detailing why the bill is... Read More
Wall Street’s allies in Washington, D.C. are looking to once again hand out a massive bailout to some of the biggest banks in the country. They want to loosen regulations, which by definition, will impact our current... Read More
We’ve been criticized for not being sufficiently one-sided since we opened the doors in 2010.  We have tried to be substantive, data-driven, fact-based and straight-shooters, calling them as we see them.... Read More
Stress tests have been one of the Federal Reserve Board’s most significant and indisputable successes since the 2008 financial crash and it must be extremely careful regarding any changes to ensure that its... Read More
The Clearing House (TCH), one of Wall Street’s most powerful lobbying organizations in Washington DC, criticized Better Markets for an argument it did not make, while ignoring the facts that supported the statements... Read More
As we said more than a year ago, Wells Fargo needed to take far-reaching, fundamental, concrete, unexpected and painful actions to fix the management, systems and controls failures that gave rise to their decade-long... Read More
President Trump appointed someone who hates the Consumer Financial Protection Bureau (CFPB) as its acting Director: Mick Mulvaney, who already has a very important full-time job as Director of the Office of Management and... Read More