Joe Adler

WASHINGTON — President Barack Obama praised the "landmark" $25 billion settlement between federal and state authorities and the top five mortgage servicers, saying it would "begin to turn the page on an era of recklessness that has left so much damage in its wake."

State and federal authorities held a press conference to announce a $25 billion settlement with the five largest mortgage servicers, and provided key details on how the money was being distributed and the amounts each institution is expected to pay.

President Obama's nomination of a Republican to the board of the Federal Deposit Insurance Corp. is fueling optimism that there may yet be a way for the Senate to confirm several pending financial nominees.

The American Bankers Association promoted five staff members of its executive staff.

WASHINGTON — The White House late Friday named former Treasury Department official Jeremiah Norton to the remaining seat on the Federal Deposit Insurance Corp. board of directors.

Regulators say coordination is a high priority, but under Dodd-Frank institutions of varying sizes and charters will face different regimes.

The Federal Deposit Insurance Corp. alerted its banks Tuesday of heightened risks from working with payment processors.

Speech includes plan to remove "red tape" for borrowers, and efforts to investigate those responsible for financial crisis.

Walsh sees need for swaps rules, but warns against overlooking the benefits of derivatives to the industry.

WASHINGTON — In the first three closures of the year, regulators shuttered institutions in Georgia, Florida and Pennsylvania.

Forcing owners of narrow-purpose banks to become bank holding companies could cause certain institutions to dissolve, but have a relatively minor impact on the industry at large, a government report said Friday.

Cordray sides with other board members on FDIC stress test proposal, while also showing off his sense of humor.

At its first board meeting this year, the FDIC unveiled stress test requirements for large state nonmember banks and revised its plan to require firms to file living wills.

Despite questions over his legal authority, the new director of the consumer bureau holds crucial voting power on safety and soundness rules as a member of the FDIC board of directors.

Texas Gov. Rick Perry is a long shot for the Republican presidential nomination, and that may just be a good thing for employees at the Federal Reserve Board.

Lawmakers show deep interest in staying involved with 'Volcker Rule' during the implementation phase, and regulators may actually be grateful.

The Federal Reserve Board is continuing its mission to make the central bank more transparent by releasing senior officials' projections for the direction of monetary policy.

With the failure rate expected to decline next year, the FDIC is getting the chance to focus on other priorities, including finishing implementation of Dodd-Frank and ensuring it is ready for the next crisis.

Move now gives public until mid-February to weigh in on Dodd-Frank trading restrictions.

The Housing Policy Council of the Financial Services Roundtable announced last week that it was promoting Paul Leonard, now the council's director of government affairs, to become senior vice president of government affairs.