Christopher Delporte

Washington, D.C., United States

Editorial Director at American Bankers Association

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Articles

CFPB plans to initiate new 1071 rulemaking 'as expeditiously as reasonably possible'

2 weeks ago | bankingjournal.aba.com | Christopher Delporte

Section 1071 litigationRevenue Based Finance Coalition v. Consumer Financial Protection BureauDate: April 3, 2025Issue: The Consumer Financial Protection Bureau (CFPB)’s plan to initiate new rulemaking for its final rule implementing Section 1071 of the Dodd-Frank Act.
D.C. Circuit panel modifies its partial stay, bars CFPB mass layoffs

2 weeks ago | bankingjournal.aba.com | Christopher Delporte

CFPB funding and operationNational Treasury Employees Union v. Russell VoughtDate: April 28, 2025. Issue: Whether CFPB violated the preliminary injunction preventing the Bureau from defunding itself by firing 1,483 employees. Case Summary: In a 2-1 decision, a D.C. Circuit panel modified its partial stay of district court Judge Amy Berman Jackson’s preliminary injunction by removing CFPB’s ability to engage in any reduction in force (RIF). On Feb.
ABA files coalition amicus brief arguing FDIC’s in-house proceeding violate Jarkesy

Feb 3, 2025 | bankingjournal.aba.com | Christopher Delporte

FDIC in-house proceedingsBurgess v. Federal Deposit Insurance CorporationDate: Jan. 22, 2025Issue: Whether the Federal Deposit Insurance Corporation (FDIC) civil enforcement proceedings violate the Seventh Amendment’s constitutional right to a jury trial.
Fidelity agrees to pay $600K to resolve FINRA’s allegations over ex-employees alleged theft

Feb 3, 2025 | bankingjournal.aba.com | Christopher Delporte

Fidelity settlementIn Re: Fidelity Brokerage Services LLCDate: Jan. 8, 2025Issue: Fidelity Brokerage Services LLC’s consent order with the Financial Industry Regulatory Authority (FINRA) related to an ex-employee’s alleged theft. Case Summary: Fidelity Brokerage Services LLC agreed to pay $600,000 to settle allegations that it lacked an adequate supervisory system from 2012 to 2020, which allowed a former employee to steal $750,000 from customer accounts.
Riding the wealth transfer wave

Jan 27, 2025 | bankingjournal.aba.com | Christopher Delporte

By Christopher DelporteGilded Age industrialist and philanthropist John D. Rockefeller said: “The only question with wealth is, what do you do with it?” It’s a question that has stood the test of time, but the answer certainly has evolved. TOOLKIT > Register now for the ABA Wealth Management and Trust Conference, February 24-26 in San Diego. More information available at aba.com/WMTC.
Spreading out the asset risk

Sep 23, 2024 | bankingjournal.aba.com | Christopher Delporte

By Christopher DelporteA fintech startup has created what it claims is the first online bank-to-bank marketplace designed to help financial institutions mitigate asset risk. The goal of the Miami-based firm — Capstack Technologies — is to create a national platform to sell or buy loans and deposits, giving small and regional banks access to national resources, helping them to mitigate asset risk related to being tied to local and regional resources.
OCC proposes standards for large-bank recovery planning

Jul 3, 2024 | bankingjournal.aba.com | Christopher Delporte

The OCC last week proposed revising its guidelines establishing standards for recovery planning by certain large insured national banks, federal savings associations, and federal branches. The OCC said the proposal would not apply to supervised institutions with less than $100 billion in average total consolidated assets. Comments are due Aug. 2.
A life-changing experience reshapes a bank CEO’s approach to leadership

Jun 20, 2024 | bankingjournal.aba.com | Christopher Delporte

By Christopher DelporteAfter narrowly surviving a deadly plane crash, WaFd Bank President and CEO Brent Beardall shares the takeaways that altered his approach to work, life and the value of personal connections. “I am the luckiest human being alive, and I’m happy to have that debate with anyone here,” said Brent Beardall, president and CEO of Seattle-based WaFd Bank, kicking off his comments at ABA’s Emerging Leaders Forum.
CFPB’s Chopra: Credit unions should be subject to CRA scrutiny

Jun 13, 2024 | bankingjournal.aba.com | Christopher Delporte

There should be a “level playing field” when it comes to credit unions being subject to Community Reinvestment Act requirements, CFPB Director Rohit Chopra said today during a hearing of the House Financial Services Committee. The federal government currently does not include credit unions in the Community Reinvestment Act, though several states impose CRA-like regulations on those institutions (the CFPB issued a summary of state-level CRA laws last fall).
Farm banking priorities: A legislative forecast for the coming year

Oct 22, 2023 | bankingjournal.aba.com | Christopher Delporte

As ag and rural banks enter 2024, a host of legislative issues currently being debated stand ready to affect the course of their clients’ business for the foreseeable future.