On February 12, a trade group representing the fintech industry filed a motion to intervene in a pending lawsuit regarding the CFPB’s final rule on open banking in order to defend it. The suit was filed originally by a bank and two banking industry groups challenging the CFPB’s section 1033 final rule.
Last Call! Next week, more than 150 IBAT members will take the voice of community banking to Capitol Hill in Washington, D.C. It’s never too late to join us.
On Friday, a Federal judge halted firings at the Consumer Financial Protection Bureau. The order further prohibited the destruction of any of the bureau’s data and paused efforts by the Acting-Director to defund the agency.
Jonathan Gould was named as nominee for Comptroller of the Currency. Gould previously served as Senior Deputy Comptroller and Chief Counsel at the OCC. When confirmed by the Senate, Gould will replace Acting-Comptroller Rodney Hood.
Former FDIC Director Jonathan McKernan was nominated to lead the Consumer Financial Protection Bureau. When confirmed by the Senate, McKernan will replace Acting-Director Russell Vought.
Still unknown is who President Trump will nominate to serve as the Federal Reserve’s Vice Chairman of Supervision. Last week, IBAT reported that its Executive Committee had filed a letter, urging the nomination of Governor Michelle Bowman for the role. IBAT further joined the ICBA and 43 other state associations in calling for Governor Bowman’s nomination last week.
