The Federal Housing Administration is facing severe challenges next year as some pressure it to lower premiums to deal with new competition from the government-sponsored enterprises, even while its insurance fund remains weak and it faces added scrutiny from GOP lawmakers.

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Benjamin Lawsky, New York's top regulator, sharply criticized banks on Thursday for their failure to speed up the payment system, threatening that the government may step in if they continue to lag behind.
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The president's decision to bolster ties with the island nation will likely give banks relief from sanctions, as well as expanded opportunities for money transfers and the financing of U.S. exports.

The Financial Stability Oversight Council put a careful foot forward Thursday on the path of designating the asset management industry as a potential economic threat.

The Consumer Financial Protection Bureau joined two attorneys general in an enforcement action against Freedom Stores for how it collected debts from service members.

A new report from the Office of the Comptroller of the Currency finds potential industry threats from interest rate volatility, looser underwriting and other areas.

Federal Reserve Board Chair Janet Yellen fought back Wednesday against accusations that the New York Fed and its president are too close to the biggest banks, saying the central bank and William Dudley have significantly toughened oversight since the financial crisis.

The CFPB sued Sprint on Wednesday, claiming it allowed illegal charges onto customer's cell phone bills. The case is likely to be a test of whether the agency has the power to oversee telecommunications firms.
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Ocwen Financial came under fire from Joseph A. Smith, the monitor of the national mortgage settlement, after concerns of conflicts of interest were raised by an unnamed whistleblower.

The Senate approved a bill late Tuesday that would retroactively extend over 50 expiring tax provisions for one years, including one that shields distressed homeowners from paying taxes on any mortgage debt forgiven in a short sale.

The Federal Deposit Insurance Corp. approved a 3% budget reduction for 2015 on Tuesday as funding needs for handling troubled banks continues to diminish.

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