Housing Wire: Stunner: Court of Appeals reverses earlier ruling, declares CFPD constitutional
PHH’s challenge to Consumer Financial Protection Bureau leadership structure rebuked by full Court of Appeals
On Our Radar
A curated collection of links to news, analysis, trends, ideas and views from elsewhere.
Washington Post: ‘Using his position for private gain’: Ben Carson was warned he might run afoul of ethics rules by enlisting his son
Housing and Urban Development Secretary Ben Carson allowed his son to help organize an agency “listening tour” in Baltimore last summer despite warnings from department lawyers that doing so risked violating federal ethics rules, according to internal documents and people familiar with the matter.
The Atlantic: The CFPB’s new mission
In a memo to bureau staff made public by ProPublica, Mulvaney finally laid out his vision for the agency: a government entity that doesn’t “push the envelope.”
American Banker: Backers of Senate GSE plan reject claims that it’s too conservative
Progressive groups are concerned that a housing finance system without Fannie and Freddie in their current state could jeopardize affordable housing.
ProPublica: Newly defanged, top consumer protection agency drops investigation of high-cost lender
The Consumer Financial Protection Bureau dropped an investigation triggered by a 2013 ProPublica story about a lender that charges triple-digit interest rates.
Propublica: Newly defanged, top consumer protection agency drops investigation of high-cost lender
In the latest sign that the Consumer Financial Protection Bureau is pulling back from aggressive enforcement, it dropped an investigation triggered by a 2013 ProPublica story about a lender that charges triple-digit interest rates.
Reuters: Online lender SoFi nabs Twitter executive Noto as CEO
Silicon Valley executive Anthony Noto has left Twitter to become chief executive officer of online lender Social Finance Inc
American Banker: ‘I am not trying to starve the agency,’ CFPB chief reiterates
Interim Director Mick Mulvaney requested zero additional funds for the CFPB in the second quarter of fiscal year 2018.
New York Times: When gentrification isn’t about housing
Gentrification has become a more capacious idea lately. The poor are still gentrification’s victims, but in this new meaning, the harm is not rent increases and displacement — it’s something psychic, a theft of pride and an appropriation of culture.
AmericanBanker: Mulvaney launches public review of entire CFPB
AmericanBanker, January 17, 2018: Mulvaney launches public review of entire CFPB The CFPB said it plans to publish a series of requests for information in the Federal Register in the coming weeks asking for the public to weigh in on the agency’s enforcement, supervision, rulemaking, market monitoring and education activities. “In this New Year, and under …
AmericanBanker: Mulvaney launches public review of entire CFPB Read More »
Shelterforce: Honing the “scale-up” of community development organizations
Robert Zdeneck’s new book (co-authored with Dee Walsh), “Navigating Community Development: Harnessing Comparative Advantages to Create Strategic Partnerships” how the community development field has evolved over the last 50 years. Read Shelterforce’s book review!
CNNMoney: Trump may weaken ‘outdated’ rules that force banks to lend to the poor
For years, banks have been fighting these requirements to lend to underprivileged people — and President Trump is listening as he continues his war on regulation. The irony is that these rules benefit the same “blue-collar people Donald Trump maintains he represents.
Impact Alpha: BlackRock just did one thing that changed the game for anyone who invests
Larry Fink, chief executive of BlackRock, which manages $6 trillion in investments, told business leaders that if they want to do business with BlackRock moving forward, they’re going to need to contribute to society in addition to making a profit. It’s an enormous step from one of the world’s most influential money managers.
New York Times: Democrats add momentum to G.O.P. push to loosen banking rules
The most significant attempt to loosen rules imposed in the wake of the 2008 financial crisis is underway in Congress as the Senate looks to pass legislation within the next month that would roll back restrictions on swaths of the finance industry.
The Dream: Jeff and Mackenzie Bezos to fund 1,000 college scholarships for DREAMERS
A $33 million dollar grant for undocumented immigrant graduates of US high schools with DACA status to go to college.