CFPB Should Boost Consumer Data Protections: GAO
Republican lawmakers say that the CFPB is overstepping its boundaries with "unwarranted" and "unwelcome" intrusion into personal consumer information.
Senators Vow More Work on Housing After Voting to Wind Down Fannie, Freddie
Members of the Senate Banking Committee said they’d keep working to overhaul the housing finance system after casting a narrow vote to advance the bill.
Harmonization Headache: Thornier Than Fiduciary?
The debate over the outcome of the SEC's fiduciary rule is bringing to light what could turn out to be an even more contentious issue: whether such a rule will include harmonizing advisor and broker rules.
NARAB II Bill Clears Senate Banking Committee
The bill would establish the National Association of Registered Agents and Brokers, a nonprofit, independent board to provide a mechanism for multistate licensing for insurance producers
Schwab’s Clark to SEC: Don’t Link Fiduciary and Harmonization
As the SEC continues to gather data for a fiduciary rule, Bernie Clark of Schwab Advisor Services says Schwab’s mission is to ensure that a fiduciary rule is not coupled with harmonization of broker and advisor rules.
Obama Names Replacements for SEC’s Walter, Paredes
Kara Stein of Sen. Jack Reed’s office will replace Walter, while Senate Banking economist Mike Piwowar will replace Paredes.
Mary Jo White Confirmed by Senate as SEC Chairwoman
The former prosecutor was confirmed as SEC chief via unanimous consent.
White Pledges to Weigh Cost of Fiduciary Rule as Ketchum Revives SRO Fight
Just as incoming Securities and Exchange Commission (SEC) Chairwoman Mary Jo White has pledged to lawmakers that she would carefully weigh the costs of a fiduciary rulemaking, Richard Ketchum, CEO of the Financial Industry Regulatory Authority (FINRA), is renewing his call for a self-regulatory organization to oversee advisors.
Mary Jo White Commits to Reviewing Fiduciary Comments
Mary Jo White told the Senate Banking Committee on Tuesday that she would “commit” to reviewing the request for public comment on the agency’s fiduciary rule before releasing a proposal.
Sen. Schumer: ‘Scrap’ Simpson-Bowles in Fiscal Cliff Talks, Raise Top Tax Rates
Schumer says “old style” tax reform is now obsolete because there are two new conditions that exist today that didn’t exist when the Tax Reform Act of 1986 was passed: “a much larger, more dangerous deficit, and a dramatic increase in income inequality.”