Hannah Lang

Adolfo Marzol, who has served as an adviser to HUD Secretary Ben Carson, will now report to the new director of the Federal Housing Finance Agency.

Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve.

The new head of the agency regulating Fannie Mae and Freddie Mac will be at the forefront of reforming the housing finance system.

On the same day the House Financial Services Committee held a hearing with CEOs of seven of the largest banks, Sen. Sherrod Brown said bank misconduct since the crisis demanded further inquiry by the Senate Banking Committee.

The Federal Reserve Board unveiled a host of proposed changes to tailor U.S. supervision of foreign firms, as well as a proposal easing “living will” requirements for both domestic and overseas banks.

The administration official will serve a five-year term as Fannie Mae and Freddie Mac's chief regulator.

Sens. Sherrod Brown, D-Ohio, and Ron Wyden, D-Ore., pressed Stephen Moore for details about reports that he owes more than $75,000 in taxes and failed to pay more than $300,000 in alimony and child support.

After a brief delay, the agency’s acting director signed off on Fannie Mae and Freddie Mac contributing to the National Housing Trust Fund and Capital Magnet Fund.

The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law.

The mortgage industry is stepping up its fight against a bill that would raise the Department of Veterans Affairs' mortgage fees to cover medical costs for Vietnam vets.