Law and regulation

The Consumer Financial Protection Bureau received about 2,300 complaints from borrowers about mortgage servicers in December, and that pace has been steady ever since, a senior advisor at the agency said Wednesday.

A push by the nascent consumer bureau to make a small fix to the Dodd-Frank Act is drawing favorable reviews from the banking industry.

Banks strategizing about the best ways to unload real-estate owned properties face tough choices on whether to pay for costly repairs, auction off homes or attempt to sell them to investors.

A California judge gave former IndyMac Bancorp. Chief Executive Michael Perry time to appeal a ruling that puts him in the crosshairs of a $600 million lawsuit accusing him of negligence for signing off on risky mortgages at the time of the housing collapse.

The agency's research on the sector includes some larger institutions that still fit the community bank mold, while discounting smaller banks with a narrow focus.

Consumer advocates and others urge banks to improve overdraft disclosures, press CFPB's Cordray to regulate Wal-Mart.

WASHINGTON–The Consumer Financial Protection Bureau's announcement Feb. 22 that it was targeting overdraft-protection practices was a stark reminder for bankers that even if they have already made significant changes, it is likely not enough.

NEW YORK–Bankers, consumer advocates and other industry members gathered on Feb. 22 to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

A federal judge has granted approval for a Florida force-placed insurance class action to proceed against Wells Fargo and QBE Insurance. Evidence already uncovered in the case poses added peril to the defendants and other banks.

Weak demand for advances among member banks suppressed profits at several of the nation's Federal Home Loan Banks during the fourth quarter.

Many banks would get the benefit of a broad cut in the tax rate, but the administration is also proposing to reduce deductions for corporate borrowing.

Industry members and consumer advocates gathered on Wednesday to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

The Consumer Financial Protection Bureau's announcement Wednesday that it was targeting overdraft protection practices was a stark reminder for bankers that even if they have already made significant changes, it is likely not enough, observers warned.

The acting commissioner of the Federal Housing Administration on Wednesday blasted news reports that claim Bank of America Corp. was essentially bailing out the agency's mortgage insurance fund.

Like the mast of a sailing ship coming over the horizon, the first sign that Congress may restructure Fannie Mae and Freddie Mac has appeared.

Bankers shouldn't complain about intrusive government regulation while begging Congress to extend unlimited deposit insurance on large transaction accounts. It's disingenuous, and perhaps worse, it's dangerous politics.

The Obama Administration is pushing back against a recent news report that concluded U.S. taxpayers will subsidize the roughly $25 billion mortgage settlement.

CoBank, the largest lender in the government-backed Farm Credit System, reported record profits in 2011 as higher prices for key commodities such as corn, wheat and soy led to increased loan demand from large cooperatives and agribusinesses.

For banks, the Consumer Financial Protection Bureau's plans to take a close look at checking account overdraft fees puts a multi-billion dollar source of revenue at risk.

WASHINGTON — The Consumer Financial Protection Bureau launched an inquiry Feb. 22 into overdraft-protection practices, requesting data from a number of banks on their policies, terms and marketing of such programs.