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Wells, Citi Halt Most Foreclosure Sales as OCC Ratchets Up Scrutiny

In a sign of renewed pressure on mortgage servicers, a number of big banks have ceased or dramatically slowed the final step in the foreclosure process.
Regulation & Reform
Consumer Finance

Breaking News

Zions Sells $300 Million in Preferred Stock 02:52PM ET

BMO Harris Ordered to Strengthen BSA Compliance 12:04PM ET

Sierra Vista in Calif. Receives $1.5M Investment 10:50AM ET

Tierney Steps Aside as Flagstar's CEO 09:33AM ET

FDIC Sues Management of Failed Fla. Bank for $48M 04:21PM ET

Pandit's Back in Banking — in India 04:07PM ET

See all Breaking News
'I care very deeply about protecting consumers from predatory payday loans,' NCUA Chairman Debbie Matz says.

Payday Loans by Credit Unions Come Under Fire

The regulator of federal credit unions is promising to take steps to curtail high-cost, short-term loans, in the wake of tough action by banking regulators.
California Thrift's Woes Show Challenges Competing with Payday Lenders
New Regs Could Wipe Out Bank Payday Loans
Small Banks Developing Ways to Compete Against Payday Lenders
Consumer Finance
Community Banking

Consumer Finance

CFPB Driving Banks to Drop Auto Dealer Incentives
The Consumer Financial Protection Bureau's focus on discrimination in the auto loan business will likely force the banks it targets to stop paying bonuses to car dealers that originate high-interest loans. Changing practices in the rest of the industry could prove tougher.
CFPB Targets Discrimination in Auto Loan Battle
Car Dealers Fight Back Against CFPB Auto Financing Rule

National

JPMorgan Chase CEO, Jamie Dimon (Image: Bloomberg News)
What the JPM Chairman/CEO Vote Means for Other Banks
Whatever the outcome of Tuesday's vote over Jamie Dimon's dual titles at JPMorgan Chase, the debate raging at the country's largest bank will increase the pressure on bank boards to split up chairman/CEO roles in the future.

Regulation & Reform

One key question is whether Reid will use the 'nuclear' option to force a confirmation of Cordray.(Image: Bloomberg News)
The Politics Behind the Senate's Vote on Cordray: FAQ
Senate Majority Leader Harry Reid is bringing the battle over the Consumer Financial Protection Bureau back to the forefront next week with a long-awaited confirmation vote on Richard Cordray, the agency's director.
Senate to Vote on Cordray Nomination Next Week
Court Ruling May Force Deal on CFPB Structure

Mergers & Acquisitions

Surprising Synovus Deal Shows Tarp Banks Can Do M&A
Regulators let the Columbus, Ga., company acquire a failed bank — its first deal in four years — though it still owes Tarp $968 million. A surprising number of similar deals have occurred in recent years.
Harvard Winters

What a Sucker Bet Says About JPMorgan

The chairman/CEO split issue is a sideshow. No one has considered the troubling implications of a large, misguided bet that happened to pay off the year before the London Whale losses, writes Harvard Winters.
Risk Management
National/Global

Consumer Finance

Image: Fotolia
Payday Lenders to CFPB: Back Off
Director Richard Cordray sat silently at a public hearing as a room full of the industry's customers and employees argued that Americans should be allowed to make their own borrowing choices.

Washington

Federal Reserve Gov. Sarah Bloom Raskin (Image: Bloomberg News)
Housing, Fiscal Policy Still Drag on Economy: Fed's Raskin
Federal Reserve Gov. Sarah Bloom Raskin warned Thursday that the government's tightening fiscal policies and a slow housing recovery will continue to restrain a U.S. economic recovery.

People

Tim Ryan (Image: Bloomberg News)
JPM Exec's SIFMA Ties Could Help Dimon Vote
Tim Ryan, a veteran lobbyist who runs JPMorgan Chase's regulatory strategy, served until January as chief executive of SIFMA, which moved last week to stop the sending of vote tallies to shareholders.

BankThink

John Buhrmaster
Brown-Vitter Bill: A Capital Fix for Troubled Markets
The common-sense steps taken in the bill will help even the playing field between community banks and big financial firms, writes John Buhrmaster.
Why the Brown-Vitter Bill Matters ? Even if It Doesn't Pass

Data Drilldown

Longer Road to Normal (Higher) Credit Losses on Cards: Interactive Graphic
The latest monthly reports from credit card issuers provide more evidence that loss rates will stay abnormally low longer than thought just a few months ago.

American Banker Magazine

How the Best-Known Bankers in Town Stay Connected
We've profiled six bankers who raise the act of connecting with their communities to an art form. They are from different institutions in different parts of the country, and each has a different story.

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In Pictures
Comments of the Week: Fair Lending Insanity; Split Chairman and CEO Roles?
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