Law and regulation

The Federal Housing Finance Agency warned Wednesday it would take action, if necessary, to stop cities from using eminent domain to seize underwater mortgages and attorneys say they are likely to prevail.

The mortgage-writedown program that the FHFA rejected would have produced little benefit to the housing market. But principal forgiveness, done right, can do a lot of good while minimizing potential harm.

The multidistrict litigation process lumped together disparate overdraft cases in a "one size fits all" approach. As a result, it did not achieve the salutary goals the judicial panel set out to accomplish and must be judged an expensive failure.

Sen. Richard Shelby might be the Senate Banking Committee chairman in 2013, depending on which party is in control. If he does, he has his agenda ready.

Sandy Weill's call to break up the big banks by restoring the Depression Era law has sparked a backlash among some who argue it would not help prevent the next crisis.

As Standard Chartered deals with the fallout over accusations it laundered money for Iran, some wonder if U.S. regulators have been overreaching.

Prime Pacific Financial Services in Lynwood, Wash., will raise $5 million through a private placement of common stock as it works to meet capital requirements from a regulatory order.

Stabilizing operational costs and the potential for steady profits at Freddie Mac could further lessen the urgency of structural reforms.

Bureau says banks with fewer than 100 international money transfers a year can avoid new fee disclosure requirements, but some industry officials say the threshold is still too low.

Standard Chartered fell the most in almost 24 years as an analyst estimated it may face costs of $5.5 billion after being accused of violating U.S. money laundering laws over to its dealings with Iranian banks.

The Federal Reserve Board has issued an enforcement order against Gold Canyon Bank that gives the Gold Canyon, Ariz., company 90 days to become adequately capitalized or to sell itself.

Consumer use of prepaid cards is incredibly varied, relatively short-lived and full of mystery, finds a report released Tuesday by the Philadelphia Fed.

The Consumer Financial Protection Bureau said Tuesday that institutions with fewer than 100 remittances a year are exempt from a requirement that providers of international money transfers provide upfront fee disclosures.

The Consumer Bankers Association has bulked up its staff, announcing four new hires across several areas.

U.S. Senator Richard Durbin said merchants should "think hard" before signing a $6.6 billion settlement with Visa, MasterCard and banks over credit-card fees.

Huntington Bancshares (HBAN) in Columbus, Ohio, will redeem roughly $114.3 million in trust-preferred securities next month.

MetLife, the insurer seeking an exit from banking to limit U.S. regulation, was penalized $3.2 million by the Federal Reserve for lapses tied to the servicing of loans and handling of foreclosures.

"The Consumer Financial Protection Bureau is urging colleges to adopt a new form designed to make it easier for students to compare financial aid offers,” writes American Banker’s Kevin Wack.

Sen. Richard Durbin, who won federal limits on debit-card swipe fees, said merchants should "think hard" before signing a $6.6 billion settlement with Visa Inc., MasterCard Inc. and banks over credit-card fees.

ViVOtech has sold its ViVOpay payment-hardware business, the company said Monday in a notice on its website.