Pacific Investment Management Co. raised more than $1.5 billion for a private pool to buy assets from banks looking to strengthen their balance sheets, according to two people with knowledge of the fund raising.

Goldman Sachs Group Inc., the fifth-biggest U.S. banking company by assets, will continue making principal investments with the firm's own money because executives do not think the so-called Volcker Rule prevents the practice, a Bank of America Corp. analyst said.

Certain Republican House lawmakers are questioning the need for a uniform fiduciary standard, adding more fuel to a legislative debate set to take place soon.

Bridgeview Bancorp floated its name with 14 potential buyers, but it only attracted serious interest once it promised to divest a mortgage business that recorded a double-digit decline in fee income last year.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

A clear, cross-agency regulatory framework is needed to help the industry embrace the promise of this new financial services paradigm.

Calls for “reform” in times of high liquidity ignore the scalability of the system, and the need to have it around in times of trouble.

In order to align financial policy with the interests of consumers, the agency should consider why these services have caught on — and remember to keep a lane open for innovation.