Articles by Elizabeth Dexheimer

Key House Chairman Wants Flood Insurance Reforms, Not Just Renewal

A key Republican said Hurricane Harvey will spur Congress to reach a deal to fund the nation’s flood insurance program before it expires next month, even though divisions persist over how much the federal government should be on the hook …

Yet Another Auto Insurance Issue for Wells Fargo: Reports

Wells Fargo & Co.’s U.S. regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the matter. The Office of the Comptroller of the …

Republicans Ask Treasury to End ‘Too Big To Fail’ Process for Non-Banks

Key Senate Republicans urged the Trump administration to rethink the process for labeling firms whose failure could threaten the financial system, arguing it has led to substantial regulatory costs. The Financial Stability Oversight Council, a panel of regulators with authority …

Trump Halts Fiduciary Rule Opposed by Financial Advisors; Orders Dodd-Frank Review

President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put …

Court Limits Director’s Power But Lets U.S. Consumer Protection Bureau Survive

The Consumer Financial Protection Bureau survived a constitutional challenge and will remain in business, though a federal appeals court took away power from its director and tossed out a $109 million penalty against a mortgage company. The long-awaited decision was …

Financial Industry Files Suit Against Obama Fiduciary Standard for Retirement Plan Brokers

Wall Street and business lobbying groups have teamed up to fight the Obama administration’s new rules for U.S. brokers managing retirement accounts, saying the regulations include a ” deliberately unworkable” fiduciary standard. The U.S. Chamber of Commerce joined groups including …

Banks Keep Distance from Marijuana Business and Its Unbanked Billions

The U.S. government has opened a new line of business for America’s biggest banks, and for once they don’t want it. Little wonder: it’s cash from legalized marijuana. The financial-crimes arm of the Treasury Department is making it easier to …