Law and regulation

Is Dodd-Frank the real reason, or enough of a reason, for Wall Street to abandon Obama?

In addition to the national mortgage servicing settlement, Nevada has reached a side deal with Bank of America, state Attorney General Catherine Masto announced late Thursday.

Multiple state and federal officials put the banks on notice that the $25 billion mortgage servicing settlement is just the first step in pursuing civil litigation and criminal prosecutions in connection with misdeeds before, during and after the financial crisis.

Sen. Robert Menendez wants to let lenders share in future home price increases if they agree to reduce the mortgage principal owed by homeowners today.

Depending on who you talked to, the massive mortgage servicer settlement announced Thursday was either a "criminal sell out" or a much-needed shot in the arm for the housing market. In reality, however, it appeared to be neither.

In congressional testimony Thursday, two economists saw reasons for optimism about the battered U.S. housing market.

Most of the costs were either previously reserved for or will be incurred over several years. Among the five banks that settled (Wells Fargo, Bank of America, JPMorgan Chase, Allied Financial and Citigroup), only Citi had to take a charge.

Three months after a new rule capped debit card swipe fees, Visa Inc. is weathering a slowdown in its U.S. debit business, though it has so far avoided the doomsday scenarios once predicted.

Oklahoma Attorney General Scott Pruitt says his 49 counterparts exceeded their authority by pushing for principal reductions. So he’s entered into a separate settlement in which banks would pay $18.6 million.

The House version of the STOCK Act does not require political intelligence firms to register as lobbyists. Now Senate Majority Leader Harry Reid must decide whether to fight for the provision.

The $25 billion 'robo-signing' settlement with five major servicing banks announced Thursday morning could yield nearly $35 billion in principal reductions, according to Housing and Urban Development secretary Shaun Donovan.

WASHINGTON — President Barack Obama praised the "landmark" $25 billion settlement between federal and state authorities and the top five mortgage servicers, saying it would "begin to turn the page on an era of recklessness that has left so much damage in its wake."

Banks have been successful at beating back legal challenges to credit card payment protection plans. The Consumer Financial Protection Bureau could change that.

WASHINGTON – Following on the announcement of a $25 billion settlement between state and federal agencies with the top five mortgage servicers, the Federal Reserve Board announced it was levying a $776.5 million fine against the firms' parent companies for failing to properly oversee their subsidiaries.

State and federal authorities held a press conference to announce a $25 billion settlement with the five largest mortgage servicers, and provided key details on how the money was being distributed and the amounts each institution is expected to pay.

The Pulse electronic funds transfer network has launched a Debit Regulations Resource Center that will provide information on debit-related legislation, regulations and compliance matters, the Discover Financial Services unit announced Feb. 9.

Freddie Mac's CEO responds to the NPR-ProPublica report that his company "bet against" homeowners.

After months of wrangling, California and New York's attorneys general have joined a settlement with the top five mortgage servicers. Final details of the plan are scheduled to be released this morning.

After months of wrangling, California's attorney general is expected to join a settlement with the top five mortgage servicers, and New York may soon follow.

The Obama administration rolled out details of a new plan to help millions of homeowners refinance. For banks, the big question is how much of the tab they'll be required to pick up.