FHFA Director Melvin Watt (Bloomberg News)
"I don't think it's FHFA's role to contract the footprint of Fannie and Freddie," FHFA Director Mel Watt said in a May 13 speech.

Top Stories

Mutual-to-stock conversions are facing new hurdles, as evidenced by events at a pair of Massachusetts mutuals. Depositors at Beverly Bank recently rejected its proposed conversion, while Reading Co-op Bank changed its bylaws to make it more difficult to convert.  more »
New York-regulated banks won't be able to hire PwC for consulting work until 2016 under a penalty handed down by Benjamin Lawsky, the state's banking superintendent. The move could encourage some banks to turn to smaller auditors, who some experts say produce higher quality work and are less expensive.  more »
The industry is objecting to a recent Consumer Financial Protection Bureau blog post that calls into question the transparency of agreements between colleges and financial institutions that offer student products.  read more »
The Federal Housing Finance Agency banned banks and mortgage servicers from accepting commissions on force-placed insurance policies issued by affiliated companies. At least one mortgage servicer, Ocwen Financial, has found a way around the ban.  read more »
Disruptors
PayPal Taps Braintree Tech to Test 'One-Touch' Mobile Payments
Braintree and PayPal are testing an integrated mobile payments feature, delivering on the company's promise to integrate technology from Braintree's Venmo unit.  read more »
Partner Insights
The Connecticut company was an early adopter of branch modernization, starting an effort four years ago that has led to the closure of underperforming locations, enhanced digital offerings and use of universal bankers.  read more »
An investor has filed a lawsuit to block the merger deal between the two First Citizens banks in the Carolinas, which are controlled by the Holding family. The case could turn on whether the directors on the special committees that reviewed the deal were truly independent of the Holdings.  read more »
Theories abound. So do bankers' frustrations. And regulators like FinCEN Director Jennifer Shasky Calvery promise the toughened stance is here to stay.  read more »
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