Law and regulation

The chairman of the House Financial Services Committee faces the toughest race of his 19-year congressional career.

WASHINGTON — The Capital Purchase Program was more than $6 billion in the black as of the end of January, but there are continued concerns over some institutions still not repaying CPP funds, according to a report issued Thursday by the Government Accountability Office.

The Federal Reserve Board on Thursday released details on steps three more mortgage servicers are taking to correct deficiencies in their foreclosure practices.

With at least one success, defendants are attempting to use state "business-judgment" rules to their advantage.

The real fight over the bill, which has long been sought by the banking industry, is still to come in the Senate.

The $25 billion mortgage servicing settlement is "a symbol, a chance to get everyone to agree to solve this," the CEO tells investors.

WASHINGTON — A coalition of associations, led by the U.S. Chamber of Commerce, sent a letter Thursday urging regulators to hold a public hearing on their plans to designate non-bank financial institutions as systemically important.

The idea of banks peddling "exploding toasters" has taken root thanks to industry nemesis Elizabeth Warren.

Regulators have terminated a consent order with Magyar Bancorp Inc.'s banking unit after the New Brunswick, N.J., company reduced its nonperforming assets and increased its capital levels.

The Federal Deposit Insurance Corp. has filed a lawsuit against former officers and directors of Broadway Bank in connection with the bank's collapse two years ago.

WASHINGTON — The Treasury Department said Wednesday it is selling $6 billion of its common stock in American International Group, half of which AIG intends to buy itself at the initial public offering price.

First California Financial Group Inc. in Westlake Village, Calif., has partnered with another company to provide tax refunds on prepaid cards.

As the election year revs up, political heat on the FHFA head is increasing.

House Democrats sent a letter to Financial Services Committee Chairman Spencer Bachus on Wednesday, formally requesting a hearing on a bill that would eliminate the Federal Reserve Board's statutory responsibility to focus on employment.

Judicial Watch has sued the Federal Housing Finance Agency, claiming that the agency wrongfully denied a request for documents related to a lawsuit over alleged misrepresentations of mortgage-backed securities.

Esther George, the new president of the Kansas City Fed, discusses her fears on overburdening small banks, whether too big to fail is over, and her approach to regulation.

The Federal Trade Commission expanded its case against an allegedly deceptive payday lender, charging that it sought to unfairly and deceptively manipulate the legal system and force consumers to travel to South Dakota to appear before a tribal court that did not have jurisdiction over their cases.

Sen. Grassley criticized the Department of Justice for its record-breaking fair lending settlement with Countrywide, saying it will not have a large enough impact on affected borrowers.

Actions by the CFPB and Fannie Mae could upend big banks' controversial practices of taking out insurance policies on borrowers' homes.

Savannah Bancorp Inc. in Georgia said that one of its bank has entered into a consent order with regulators and now must work to maintain capital levels and reduce problem assets.