Law and regulation

Royal Bank of Scotland (RBS) will pay $42 million to settle a probe by Nevada's attorney general into its mortgage-purchase practices before the housing crisis.

Bank of America sold defective residential mortgage loans to Fannie Mae and Freddie Mac that later defaulted, the U.S. government said in a $1 billion fraud lawsuit against the bank.

An analysis of Senate rulings indicates voters who believe in strengthening customer protections should cast their ballots for Democrats, while voters who believe banks should not have to answer to a consumer regulator should choose Republicans.

The push to roll back banking regulation has gained unlikely supporters recently. From consumer advocates to Democratic stalwarts, pressure is mounting to rein in the red tape.

"A critical mass of angst and dissatisfaction with the Dodd-Frank Act and Basel III is opening the door to change," writes Barbara Rehm. If you want to read the brightest mind on the topic, check out Karen Shaw Petrou's assessments, she says.

The Consumer Financial Protectin Bureau will publish a final rule Wednesday to supervise firms with more than $10 million in annual receipts.

The Federal Deposit Insurance Corp. has lifted a consent order against Metro Bank related to the bank's anti-money laundering and Bank Secrecy Act programs.

The flood of new regulation, demands for more capital, harsh enforcement and an unexplained three-year-old de facto moratorium on de novo charters lead one to believe Washington wants fewer community banks

Lending to companies that service the federal government have historically been safe bets, but that could change if Washington is forced to make drastic cuts early next year.

Two consumer advocates who gave advance warning of the subprime mortgage crisis are now arguing that a responsible return to less-than-prime lending can work for lenders and borrowers.

The slew of mortgage rules coming down the pike tops the list for mortgage lender angst. And it's not just lenders who are concerned. Fair lending advocates worry about tighter standards leading to a squeeze on credit.

A tipping point is coming regarding anger and dissatisfaction over Dodd-Frank. But a new assessment of the regulatory landscape points a way for policymakers to get out of the mess.

One of the largest providers of force-placed insurance, under pressure from regulators to lower prices for the coverage, has agreed to reduce premiums it charges for the product in California.

The chief executive officer of JPMorgan Chase, Jamie Dimon, hosted a lunch with 75 New York business leaders in a bid to help to steer Washington away from the fiscal cliff and toward a budget compromise akin to Simpson-Bowles.

Rep. Barney Frank is calling on state and federal officials to reconsider prosecuting banks for the sins of smaller institutions they were pressured to acquire at the height of the financial crisis.

The CFPB said Monday it is now accepting complaints related to consumer reporting agencies, a.k.a. credit bureaus.

In detailed comment letters, banks expressed despair over the hardships they will face if regulators implement Basel III capital and liquidity rules.

The simmering controversy over American Express' Bluebird card typifies a classic debate: When do regulations that ostensibly protect the public from shady operators really just protect incumbent businesses from competition?

Legal violations in student loan servicing may be worse than those in mortgage servicing for borrowers in the militar, says the Consumer Financial Protection Bureau and the Defense Department. So the two are joining forces to help stop it.

Report shows that Charlotte bank provided financial help to both conventions this year, but the Democrats still owe B of A over $7 million in loan repayments from financing for the event.