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Regulatory Agencies Trump Administration Financial Institutions

Ballard Spahr LLP

Jonathan Gould confirmed as Comptroller of the Currency

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The Senate has confirmed Jonathan Gould as Comptroller of the Currency. Gould, who served as Senior Deputy Comptroller and Chief Counsel at the OCC during President Trump’s first term, was confirmed 50-45. Every Democrat...more

Ballard Spahr LLP

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

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Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Nominee to Move to Treasury Finance Role

On May 9, the U.S. Department of the Treasury announced that President Trump intends to nominate Jonathan McKernan to serve as the Undersecretary of Domestic Finance. McKernan had been awaiting Senate confirmation to lead the...more

Ballard Spahr LLP

Trump to nominate CFPB nominee to Treasury Department position

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Treasury Secretary Scott Bessent announced May 9 that President Trump intends to nominate Jonathan McKernan, his nominee to head the CFPB, as the Undersecretary of Domestic Finance at Treasury....more

Orrick, Herrington & Sutcliffe LLP

Democrats write to OIG on NCUA board member removals

On April 29, Sen. Elizabeth Warren (D-MA) and Rep. Maxine Waters (D-CA) sent a letter to the Inspector General of the NCUA to request an investigation into the agency’s ability to operate with a single board member. The...more

Ballard Spahr LLP

Ousted Democratic NCUA board members file suit

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The two Democratic NCUA board members ousted by President Trump have filed suit, arguing that their firings violated federal law....more

Ballard Spahr LLP

House Subcommittee Chairman pushes legislation to convert CFPB into a commission, make it subject to appropriations

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House Financial Institutions Subcommittee Chairman Rep. Andy Barr, R-Ky., said last week that his subcommittee will place a high priority on changing the CFPB’s structure and funding....more

Ballard Spahr LLP

Banking Committee sends nomination of Jonathan McKernan as CFPB Director to full Senate

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The Senate Banking Committee on March 6 approved the nomination of Jonathan McKernan to be Director of the Consumer Financial Protection Bureau. ...more

Orrick, Herrington & Sutcliffe LLP

Q&A: What Will the CFPB Look Like Under McKernan?

On February 11, the White House announced Jonathan McKernan’s nomination as Director of the Consumer Financial Protection Bureau (CFPB). McKernan was previously confirmed to the Board of the FDIC by the Senate on a voice...more

Troutman Pepper Locke

Yet Another Leadership Change at the CFPB: Jonathan McKernan Nominated as Director

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On February 11, President Donald Trump nominated Jonathan McKernan to be the new Director of the Consumer Financial Protection Bureau (CFPB or Bureau). If confirmed by the Senate, McKernan will replace Acting CFPB Director...more

Troutman Pepper Locke

Treasury Secretary Bessent to Appoint Rodney E. Hood as First Deputy Comptroller of the OCC

Troutman Pepper Locke on

On February 7, Secretary of the Treasury Scott Bessent announced that he will appoint Rodney E. Hood as a Deputy Comptroller and designate him as the First Deputy Comptroller of the Office of the Comptroller of the Currency...more

Bradley Arant Boult Cummings LLP

As Federal Shutdown Continues, Financial Regulators Seek to Address Related Impacts

With no immediate end in sight to the current federal shutdown, financial regulators are seeking to minimize the adverse impacts of the shutdown on individuals. In a January 11, 2019, press release, the Board of Governors of...more

Ballard Spahr LLP

New CFPB enforcement chief to be appointed

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While an official announcement has not yet appeared on the CFPB’s website, it has been widely reported that Kristen Donoghue will be appointed the CFPB’s new Assistant Director of Enforcement, effective November 17, 2017. ...more

Stinson - Corporate & Securities Law Blog

CFTC Initiates Project KISS

In remarks at a conference, CFTC Acting Chairman J. Christopher Giancarlo announced the CFTC’s intent to comply with an Executive Order which requires each agency to designate a Regulatory Reform Officer and establish a...more

Ballard Spahr LLP

House passes bill to subject CFPB rules to OIRA review

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On March 1,2017, by a vote of 241 to 104, the House passed the “OIRA Insight, Reform, and Accountability Act” (H.R. 1009), which would subject independent regulatory agencies such as the CFPB to the regulatory review process...more

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