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Prior authorization (PA) is a utilization management tool used by health plans and pharmacy benefit managers where the payer requires additional documentation from health care providers before authorization of payment for a medication or procedure. PA processes are hypothesized to be more efficient if electronic transmission is utilized instead of manual submission.

Banks, credit unions, and insurers are rejecting the Federal Housing Finance Agency's (FHFA) inquiry into the Federal Home Loan Bank System, arguing that any changes to the system's mission must come from Congress, not the regulator. The FHFA wants the private bank cooperative to increase its support for housing, but trade groups representing financial institutions claim that the FHFA does not have the authority to update the Home Loan Bank's mission. The FHFA plans to issue a rulemaking notice to determine if the cooperative is fulfilling its public service role, which could lead to a clash with the banks and their members. [Extracted from the article]

Byline: Kate Berry TCF Financial has agreed to pay a $5 million fine to two regulators and provide $25 million in restitution to hundreds of thousands of customers for charging [...]

Byline: Kate Berry As much attention as Kathy Kraninger has drawn over her selection as the administration's choice to run the Consumer Financial Protection Bureau, she has mostly been a [...]

Byline: Kate Berry The Consumer Financial Protection Bureau on Friday permanently barred the former head of a Kansas payday loan debt collector from the industry but dramatically reduced the penalty [...]

Byline: Kate Berry Sen. Robert Menendez of New Jersey and 24 other Senate Democrats have urged acting Consumer Financial Protection Bureau Director Mick Mulvaney to reinstate members of the agency's [...]

Byline: Kate Berry Industry advocates are cautiously optimistic that Supreme Court nominee Brett Kavanaugh would side with banks on a range of legal questions relevant to the financial services industry, [...]

Byline: Kate Berry WASHINGTON -- A Supreme Court that moves even further to the right with the appointment of a successor to Supreme Court Justice Anthony Kennedy could make the [...]

Byline: Kate Berry Leandra English, who sued President Trump last year claiming to be the rightful director of the Consumer Financial Protection Bureau, said Friday that she plans to resign [...]

Byline: Kate Berry Citibank will refund $335 million, or $190 apiece for 1.75 million accounts, to customers for miscalculating interest rate charges over eight years, but will not pay an [...]

Byline: Kate Berry With leadership of the Consumer Financial Protection Bureau already facing plenty of uncertainty, a looming court decision could further upend the calculus of who runs the agency. [...]

Byline: Kate Berry A federal judge on Thursday ruled that the Consumer Financial Protection Bureau's structure is unconstitutional and disqualified the agency as a plaintiff in litigation against a New [...]

Byline: Kate Berry Acting Consumer Financial Protection Bureau Director Mick Mulvaney urged lawmakers Wednesday to get behind the nominee who has been chosen to run the agency permanently and faced [...]

Byline: Kate Berry Opposition to the White House pick to run Consumer Financial Protection Bureau escalated Tuesday when Democratic senators suggested the nominee may have been involved in the policy [...]

Byline: Kate Berry House Minority Leader Nancy Pelosi on Monday criticized President Trump's apparent choice to head the Consumer Financial Protection Bureau, claiming Republicans are putting the interests of banks [...]

Byline: Kate Berry President Trump has yet to formally name Kathy Kraninger as his choice to head the Consumer Financial Protection Bureau, but her nomination is already in trouble -- [...]

Byline: Kate Berry The Consumer Financial Protection Bureau is expected to go back to the drawing board on its payday lending rulemaking after a federal court rebuffed the agency's attempt [...]

Byline: Kate Berry The Consumer Financial Protection Bureau on Wednesday ordered Security Group Inc., a high-cost installment lender in Spartanburg, S.C., to pay $5 million for illegal tactics in trying [...]

Byline: Kate Berry A federal court dealt a blow to efforts by the Consumer Financial Protection Bureau to slow down the agency's payday lending rule. U.S. District Judge Lee Yeakel [...]

Byline: Rob Blackwell Mick Mulvaney is fond of saying he wants to make the Consumer Financial Protection Bureau into a 'gold-standard' regulator, arguing that its tone and substance should be [...]

Byline: Kate Berry Acting Consumer Financial Protection Bureau Director Mick Mulvaney on Thursday dismissed the bureau's case against PHH Corp., ending a contentious legal battle that resulted in no fines [...]

Byline: Kate Berry The Consumer Financial Protection Bureau fired all 25 members of the agency's Consumer Advisory Board during a conference call Wednesday, saying it wanted to bring in more [...]

Byline: Kate Berry The Consumer Financial Protection Bureau is poised to dismiss its case against PHH Corp., a nonbank mortgage lender and servicer whose appeal of a $109 million penalty [...]

Byline: Kate Berry Large banks could stand to get similar relief from mortgage data reporting requirements that Congress just gave community banks, but that relief may not be all it's [...]

Byline: Kate Berry The Office of the Comptroller of the Currency is shaking up the world of short-term lending by encouraging banks to offer high-interest rate loans to subprime borrowers [...]

Byline: Kate Berry Senate Democrats are asking acting Consumer Financial Protection Bureau Director Mick Mulvaney to explain why the agency is no longer supervising student loan lenders and servicers. Sen. [...]

Byline: Kate Berry Should regulators treat traditional banks and credit unions exactly the same as technology-driven lenders when vetting their mortgage underwriting standards? That is the central question to emerge [...]

Byline: Kate Berry President Trump has nominated Michael Bright, the acting president and chief operating officer of Ginnie Mae, to head the agency full time. Ginnie has been without a [...]

Byline: Kate Berry The union representing employees at the Consumer Financial Protection Bureau is already battling plans by acting Director Mick Mulvaney to restructure the agency -- and is preparing [...]

Byline: Kate Berry Mick Mulvaney on Wednesday announced a restructuring of the Consumer Financial Protection Bureau that will strip the agency's student lending office of all functions except consumer education. [...]

Byline: Kate Berry The Senate Banking Committee will consider the nominations of two nominees to the Federal Reserve next week. Lawmakers will vote on Columbia University Economist Richard Clarida to [...]

Byline: Kate Berry The White House is dragging out the nomination of a permanent director for the Consumer Financial Protection Bureau to ensure that acting CFPB Director Mick Mulvaney calls [...]

Byline: Kate Berry The public face of the Trump administration's makeover of the Consumer Financial Protection Bureau has been acting Director Mick Mulvaney. But he is by no means working [...]

Byline: Kate Berry PHH Corp. is not appealing to the Supreme Court a case that questioned the constitutionality of the Consumer Financial Protection Bureau, ending a contentious four-year legal battle. [...]

Byline: Kate Berry The Consumer Financial Protection Bureau's $1 billion fine against Wells Fargo was a record, but it also set another precedent: Not a penny of that will go [...]

Byline: Kate Berry Seventeen lawmakers were paid thousands of dollars in campaign contributions by payday lenders and their political action committees within days of taking actions to benefit the industry, [...]

Byline: Kate Berry Acting Consumer Financial Protection Bureau Director Mick Mulvaney has repeatedly pointed to data security as a defect in the agency's supervisory program, but security experts are scratching [...]

Byline: Kate Berry Wells Fargo agreed Friday to pay $1 billion to settle claims it overcharged customers for auto insurance and home loans. The penalty came after a December tweet [...]

Byline: Kate Berry Federal regulators are expected to slap Wells Fargo with a $1 billion fine as early as Friday for overcharging customers for auto insurance and home loans. The [...]

Byline: Kate Berry The financial services industry was poised for another regulatory relief victory Tuesday as the Senate closed in on overturning the Consumer Financial Protection Bureau's 2013 auto lending [...]

Byline: Kate Berry Two groups representing the payday lending industry sued the Consumer Financial Protection Bureau on Monday to invalidate the agency's rule imposing tough restrictions on small-dollar loan providers. [...]

Byline: Kate Berry The Consumer Financial Protection Bureau is seeking to fine Wells Fargo up to $1 billion for alleged abuses related to auto insurance and mortgage lending, Reuters reported [...]

Byline: Kate Berry The issuance of financial regulations has dropped to a 40-year low, new data shows, a sign that the Trump administration is fulfilling its deregulatory agenda. Companies that [...]

Byline: Kate Berry The Consumer Financial Protection Bureau is seeking public comment on its consumer financial education programs and how to gauge their effectiveness. In a request for information issued [...]

Byline: Kate Berry Rep. Maxine Waters, D-Calif., questioned Bank of America's decision to end free online checking accounts used by many low-income consumers after the bank was a beneficiary of [...]

Byline: Kate Berry Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power Monday, including a recommendation that all CFPB rules must be approved by [...]

Byline: Kate Berry With Congress moving closer to passing a bill to reform provisions of the Dodd-Frank Act, banks are hoping for a reduction in compliance costs after years of [...]

Byline: Kate Berry The Consumer Financial Protection Bureau is seeking comment on whether it should change any regulations it inherited from other federal agencies. The information collection effort is consistent [...]

Byline: Kate Berry The Consumer Financial Protection Bureau handled 84,500 debt collection complaints in 2017 and consumers viewed or downloaded information 838,255 times from the agency's web site last year [...]

Byline: Kate Berry The American Bankers Association has named Naomi Camper, who spent seven years as a top lobbyist for JPMorgan Chase, as its chief policy officer. Camper most recently [...]