How to gain more from operational risk management practices. Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.
Mulvaney cuts enforcement power of CFPB office
In a memo to staff released this week, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, transferred members of the Bureau's Office of Fair Lending and Equal Opportunity into his office and ended the Office's separate enforcement authority, according to Consumer Reports. A Bureau spokesman said the move was made to "gain efficiency and consistency without sacrificing effectiveness." Critics of the move have suggested that the reorganization will reduce the effectiveness of the CFPB's fair lending enforcement efforts.