Industry professionals are told of the fiduciary rule's ramifications.
The OCC asks the CFPB to put the breaks on arbitration rules until a full review is conducted.
Rep. Ann Wagner says the best interest standard her new bill proposes "applies to both investment and retirement accounts, unlike Labor’s rule."
The CFPB's Cordray fires back, saying the OCC cannot challenge arbitration rules.
Largest consolidations occur in Washington, California and North Dakota; two credit unions merge because of poor financial condition.
Rep. Ann Wagner’s bill seeks to replace the rule with a best interest standard on BDs’ investment recommendations.
The NCUA board meets next week and will discuss soliciting comments on the corporate stabilization fund.
A credit union president tells a House subcommittee that the CFPB's powers are too broad.
Credit unions representing one-quarter of the nation’s members would be affected by the proposed rule change.
Efforts are underway to nullify the new CFPB arbitration rules.