Financial Regulation in the Trump Era

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Donald Trump Financial Regulation Donald Trump Financial Regulation 2017-03-20 Staff Writer Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago March 20, 2017 3,406 Views The Best Markets For Residential Property Investors 2 days ago  Print This Post Subscribe Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Financial Regulation in the Trump Era Share Save Sign up for DS News Daily Previous: BofA Fulfills Settlement Ahead of Schedule Next: HouseCanary Announces Collaboration With Google With the current administration at the helm, everyone expects plenty of change to happen, particularly in financial regulation and the lending industry. In a brief titled “Financial Regulation in the Era of Donald Trump” for Indiana State University Networks Financial Institute, Chris Whalen states that the passage of the 2010 Dodd-Frank law and the regulations and legal undertakings that followed it put the U.S. financial sector under the greatest constraints since the Great Depression.“In the aftermath of the 2008 financial crisis, the focus of politicians in both parties was to punish banks and other financial services companies for a variety of offenses, real and imagined,” says Whalen. “In many respects, the provisions of the Dodd-Frank law were designed to chastise banks and other companies for perceived wrong doing, especially abuses of consumers.”The question now is how will Trump administration deal with financial regulation, and where does financial regulation rank on the list of priorities?A challenge that will need to be addressed is the problem of “too big to fail.” . Whalen notes that the aftermath of the bailouts caused widespread anger. This anger increased dramatically in the following foreclosure crisis.“Meanwhile, virtually no executives of the major U.S. banks and financial institutions were subject to legal sanctions for acts of financial fraud and malfeasance,” Whalen says. “Instead the victims of the 2008 crisis–namely the shareholders of the largest financial institutions–have been repeatedly punished via fines and lopsided legal settlements.”Regulatory entities are already high-priority targets for President Trump, most notably the Consumer Financial Protection Bureau (CFPB). The president’s team has indicated support of the Financial Choice Act, which, among other things, would modify aspects of Dodd-Frank. The Choice Act would help to reform the CFPB, which, according to Whalen, “has been especially harmful to the mortgage industry and has caused the cost of servicing a mortgage to rise several fold since 2008.”Additionally, the Choice Act would give regional and community banks a way to avoid most aspects of Dodd-Frank regulations, and a policy of bankruptcy not bailouts, which would force big bank’s parent companies to file bankruptcy and restructure, instead of the current Dodd-Frank policy which allows for bailouts.“Some or all of the provisions of the Financial Choice Act could eventually become law. A modified version of legislation could be made palatable to both parties in the Senate and, despite Democratic opposition, could become law far more easily than either a tax reform bill or ACA reform,” Whalen concludes. “There are a number of other issues that may catch the attention of the new President next year, but an amended version of the Financial Choice Act has the highest probability of success in 2017. Needless to say, the financial services industry including banks, insurers and nonbank financial institutions will be very supportive of passage of some form of the Financial Choice Act.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Financial Regulation in the Trump Era The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Staff Writerlast_img read more

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European Court of Justice backs online gambling guidelines

first_img EGBA calls for enhanced collaboration on consumer rights August 11, 2020 Share Related Articles The European Court of Justice (CJEU) has rejected a case brought forward from the Belgium Government, to annul European Commission guidelines, relating to consumer protection from online gambling, to member states.Arguing that by issuing the guidelines the Commission had gone beyond its treaty based competences, the CJEU found that they did not interfere with the right of member states to regulate online gambling services.Published in 2014, the guidelines contain a number of  recommendations aimed at developing a high degree of consumer protection, in addition to preventing minors from online gambling.In its defence, the Belgian government ascertained that through issuing the guidelines, member states sovereignty and competences to regulate national gambling markets were interfered with.Welcoming the decision, the European Gaming and Betting Association (EGBA) states that it supports the full implementation of the Commission’s guidelines.Maarten Haijer, Secretary General of EGBA, said: “We welcome the decision by the Court and strongly support the Commission’s guidelines for online gambling services which aim to protect consumers and minors across all EU Member States.“We now call upon the Commission to evaluate the implementation of its guidelines by Member States and identify any gaps and corrective action needed to encourage Member States to achieve a high level of consumer protection.”Whilst not legally binding, the EGBA believes the guidelines to be an important tool to encourage an application of a high, and consistent, level of consumer protection for online gambling activity in the EU.Adding in its statement: “The standards adequately compliment the European Committee for Standardisation’s (CEN) workshop agreement on Responsible Remote Gambling Measures, which EGBA members voluntarily adhere to and are regularly audited against.”Through the judgement, which confirms  the General Court of 27 October 2015 to dismiss the case, it was detailed that further appeal against the decision will not be possible. Andrea Vota named director general of Jdigital July 24, 2020 Submit KSA issues ‘conduct warning’ following covid marketing breaches July 28, 2020 Share StumbleUponlast_img read more

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Clayton Kershaw dominates in return; Dodgers end losing streak

first_imgStarting a big-league game for the first time since July 23, Clayton Kershaw looked very much like the same Clayton Kershaw he was before walking off the mound with a lower back strain that day.His curveball had its usual bite, his slider the familiar hiss. And the San Diego Padres were as thoroughly overmatched as they usually are against Kershaw.The Dodgers rested ace allowed just two harmless infield singles in six scoreless innings in his return, putting a stop to the Dodgers’ five-game losing streak with a 1-0 victory over the Padres, who didn’t even hit a ball out of the infield all game. Newsroom GuidelinesNews TipsContact UsReport an Error “He looked good. It’s nice to have him back,” said Chase Utley who drove in the game’s only run with a two-out RBI single in the sixth inning. “Looked like he hadn’t missed a beat.”The six weeks he spent on the DL seemed to melt away quickly in the Southern California heat Friday night – except for Kershaw, whose only sign of pain came when he recalled all that down time.“It felt like a long time,” he said.Nonetheless, Kershaw picked up right where he left off in what could be another Cy Young season despite his time on the DL. He has allowed just two earned runs in his past 44 innings (layoff included). He went to the DL with a major-league low 2.04 ERA. He came back Friday still the low man in the ERA race and lowered it to 1.95.“I expected him to be himself,” Utley said. “Having been around him for a couple years now, I think he’s the same every day. You guys all see how hard he works.“He deserves to pitch the way he does.”Kershaw has said he felt healthy enough to be pitching in the big leagues a few weeks ago and had to be convinced that a rehab start was a necessary step to returning. Dodgers manager Dave Roberts acknowledged that the team had used the luxury of their runaway lead in the NL West to “slow-play” Kershaw’s return, erring wholly on the side of caution with a pitcher who spent 75 days on the DL with a more serious back injury last season.The left-hander seemed intent on proving his point at the Padres’ expense.Roberts said before the game that a loose limit of five innings and 75 pitches was the “baseline” for Kershaw’s first game back. But he cruised through six innings on a hyper-efficient 70 pitches. Only 17 were called balls and Kershaw didn’t go to a three-ball count on anyone until the final batter he faced.“I didn’t expect him to be that sharp, to be quite honest,” Roberts said. “But you can never underestimate him. The sharpness of all of his pitches – fastball to both sides of the plate, the slider, introducing the curveball early – he was on point.”Manuel Margot beat out a chopper over the mound to start the first inning. Kershaw retired the next 12 batters before Yangervis Solarte reached on another ground ball that shortstop Chris Taylor stopped on the outfield grass but couldn’t make a play on.Those were the only baserunners in Kershaw’s six innings – and Solarte’s grounder to the outfield grass was as close as the Padres got to making a Dodgers outfielder field a ball Friday night. Kershaw struck out seven, impressing everyone but himself.“Efficiency-wise, I think it was as good as you could have expected or hoped,” Kershaw said.“You never truly know until you get back on a big-league mound and get big-league hitters out. So tonight was definitely a step in the right direction. You cross over that hurdle, get the first one out of the way. I’m not sure about the next one but there shouldn’t be that much of a pitch count for that next one. So – getting as close to normal as you can get.”The Dodgers’ offense is still looking to get back to normal. Padres starter Dinelson Lamet scattered six hits while striking out 10 in his six innings.“I think one part of it is the unfamiliarity,” Roberts said. “This kid, if you look at his past starts, he’s spit out some good ones. He’s got a good arm and we couldn’t really get on that slider. He was striking the slider when he needed to, when he was behind in the count. He kept us off balance. We didn’t really get a whole lot of good swings off him. That at-bat by Chase, the two-out hit, was big.”Justin Turner and Cody Bellinger led off the sixth with singles off Lamet. They were still standing at first and second two outs later. But Utley came through with a two-out, RBI single to drive in Turner.That gave the Dodgers their first lead in a game since last Friday.Brandon Morrow, Tony Watson and Kenley Jansen made it stand up by retiring the final nine Padres batters in order, striking out six.center_img SAN DIEGO >> Get together with old friends for the first time in awhile and everyone falls back into their familiar roles as if no time has passed.It was just like that.last_img read more

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