Senate Banking Committee Chairman Chris Dodd will not seek reelection this fall after months of dismal polling indicated the Connecticut Democrat's chances of winning a sixth term were bleak.

Bank of America Merrill Lynch has hired Chris Gammons as head of financial sponsors for the Asia-Pacific region, according to a memo seen by Dow Jones Newswires on Tuesday.

Morgan Stanley won a crucial legal ruling in its battle with former credit card subsidiary Discover Financial Services over almost $800 million Morgan Stanley says it is owed.

Congress should consider giving direct authority over nonbank mortgage servicers to the Federal Housing Finance Agency, according to a report released Monday by the Government Accountability Office. The report said there should be "parity" among financial regulators in the oversight of regulated entities and third parties they do business with.

Goldman Sachs will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren't properly vetted before being sold to investors as high-quality bonds.

Fannie Mae and Freddie Mac's experiments with selling credit risk to investors are a critical element of new plan to merge the two entities and move them out of conservatorship, but what form so-called credit risk transfers take could make a big difference.

The Fed plans to make its National Settlement System (NSS) more available. This will help Nacha broaden its settlement capabilities to new regions, writes Icon Solutions' Gene Neyer.

The most effective way to avoid cloud payment breaches is by dramatically reducing access, says CloudKnox Security's Balaji Parimi.

Yes, the Small Business Administration's emergency funding program for the coronavirus crisis is off to a rocky start, but that shouldn't stop banks from helping customers in need.