Law and regulation

Coming off two straight profitable quarters and flush with capital from its recent public stock offering, HomeStreet Bank (HMST) in Seattle is back in the good graces of its regulators.

WASHINGTON — Consumer Financial Protection Bureau Director Richard Cordray said Wednesday that a bill to clarify protections for privileged information provided to the bureau could become law by the end of May.

The Treasury secretary suggested Wednesday that a forthcoming rule will not spark the exodus of deposits by foreigners that some are predicting.

The largest banks are charging relatively high interest rates to borrowers that qualify for a government refinance program, according to analysts, who say that the trend bodes well for mortgage profits in the second quarter.

The New York banking giant has recently held its April annual meetings in Manhattan. But to celebrate its 200th anniversary this year, CEO Vikram Pandit is heading to Dallas to tell investors why he still can't raise their dividend.

Despite all of the new powers at their disposal, regulators continue to emphasize simplified and standardized disclosure as a critical tool to ensure consumers get a fair deal.

Mackinac Financial (MFNC) in Manistique, Mich., will raise up to $18 million through a common stock rights offering and a securities purchase agreement with an investor.

Federal regulators ought to start over on the Volcker Rule. Policymakers could meet the July 21 effective date if they stripped the plan down to its essence.

A decline in the foreclosure inventory and fewer new foreclosures initiated signal that servicers may be scaling back dual tracking processes, the OCC's lead mortgage expert said Wednesday.

Why does Harp 2.0 continue the incrementalism that marred the first incarnation of the refi program and many of the housing policies the president has put forth?

The bank's plan to convert troubled loans to rentals will benefit all concerned. A special unit for servicing toxic assets can help, if run wisely. Principal reductions could seriously backfire.

WASHINGTON — A House panel on Tuesday approved a bipartisan bill aimed at shoring up the finances of the Federal Housing Administration.

The House on Tuesday gave final approval to a bill that will allow some small banks to raise additional capital without registering with the Securities and Exchange Commission.

Consumers will be able to discharge student loans in bankruptcy if Sen. Richard Durbin gets his way. Banks are vehemently opposing the move.

In his third lecture, Federal Reserve Board Chairman Bernanke said regulators cannot tolerate continuance of "too big to fail" institutions and government bailouts when firms take excessive risks.

A clubby corner of the mortgage market has sprung back to life thanks to the historic settlement between banks and governments over foreclosure practices.

The Federal Reserve Bank of Dallas has named longtime staffer E. Ann Worthy as its new head of banking supervision.

Deputy CFPB Director Raj Date told an industry group Tuesday that the bureau was carefully weighing the effect that a new ability-to-repay standard will have on the mortgage market.

The Federal Reserve Board has terminated a written agreement with the former Cadence Financial about a year after the Starkville, Miss., company was acquired.

It's time for our nation's leaders to get serious about job creation. Our economy is beginning to inch its way forward toward recovery, but the only way forward to real prosperity for all is through small businesses.