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The Consumer Financial Protection Bureau’s latest penalty against Wells Fargo Bank reflects the unfortunate fact that the too-big-to-fail problem is alive and well, ICBA Chairman Brad Bolton wrote in an op-ed on LinkedIn.
Regulatory Impact: The president and CEO of Community Spirit Bank in Red Bay, Ala., wrote that every offense by the nation’s Wall Street firms contributes to the outsized regulatory burden facing the nation’s Main Street community banks.
Taking Action: “Policymakers should continue working to rein in too-big-to-fail financial institutions—and megabank customers should look into their local community banks as a superior banking alternative,” Bolton wrote.
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The Consumer Financial Protection Bureau issued a final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act, to update the dollar amounts of various thresholds that it must adjust annually.
ImageJan 3, 2023
The Consumer Financial Protection Bureau issued three annual threshold adjustment final rules.
ImageJan 3, 2023
ICBA President and CEO Rebeca Romero Rainey said ICBA and community bankers this year proved once again to be effective advocates in Washington.
ImageDec 23, 2022
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