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Mortgage lender PHH has been scrambling to reassure investors of its funding and cash positions in the wake of an S&P downgrade and the departure of its former CEO, Jerome Selitto.
February 8 -
Moments before he was scheduled to make a statement on the mortgage servicing settlement Tuesday night, New York Attorney General Eric Schneiderman postponed the conference call indefinitely.
February 7 -
Bankers are up in arms over the fact that a Congressional oversight has raised doubts about whether documents submitted to the Consumer Financial Protection Bureau will retain attorney-client privilege.
February 7
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President Obama's nomination of a Republican to the board of the Federal Deposit Insurance Corp. is fueling optimism that there may yet be a way for the Senate to confirm several pending financial nominees.
February 7 -
The Federal Reserve Board has ordered bank holding companies in Iowa, Wisconsin and South Carolina to use whatever resources are available to them to nurse their ailing bank subsidiaries back to health.
February 7 -
Federal Reserve Chairman Ben Bernanke stressed to concerned lawmakers that any crisis in Europe would have a significant impact on U.S. financial institutions, even though the industry and regulators have taken steps to minimize potential damage.
February 7 -
Nonbank mortgage lenders are required to establish anti-money laundering programs and file suspicious activity reports under a final rule issued Tuesday by the Financial Crimes Enforcement Network.
February 7 -
The Federal Reserve Board could vote as early as Wednesday on Capital One's application to buy the online banking unit of ING Group.
February 6 -
After a yearlong effort to reach a multistate settlement with the top five mortgage servicers, state attorneys general and the firms involved finally appear to be close to a deal. But even before it is signed, there are already questions about how it will be implemented and future litigation risks.
February 6 -
Most Senate Republicans have said they will file a court brief supporting any legal challenge to recess appointments at the Consumer Financial Protection Bureau and National Labor Relations Board.
February 6 -
The American Bankers Association promoted five staff members of its executive staff.
February 6 -
Two members of the House Financial Services Committee members, Reps. Michael Grimm and Stephen Fincher, are hosting a fundraising party on Tuesday to celebrate their birthdays.
February 6 -
Banks have faced onslaughts of litigation for several years over their credit card payment protection plans. But so far legal efforts to challenge or change the business have ended in dismissals or relatively small settlements.
February 6 -
Banks have been accused of ripping off consumers for insurance-like credit card products. Now critics who say the payment protection plans are a racket could get a boost from federal regulators.
February 6
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Minnesota has suspended the collection license of Accretive Health Inc., a Chicago-based company that lost a laptop computer containing medical records for thousands of patients at two Minnesota hospital systems last summer.
February 6 -
California has returned to talks after a four-month absence to possibly take part in a multi-state deal with the nation's largest mortgage servicers over faulty foreclosure practices, the New York Times and Los Angeles Times reported Monday.
February 6 -
WASHINGTON — The White House late Friday named former Treasury Department official Jeremiah Norton to the remaining seat on the Federal Deposit Insurance Corp. board of directors.
February 4 -
The Durbin amendment has sapped debit card revenue, but swipe fees are contributing a growing share of earnings at large credit card businesses.
February 3
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Regulators, particularly the OCC, are hitting banks with consent orders for erroneous accounting for troubled-debt restructurings. The issue, based on new FASB standards, is becoming a catalyst for higher loan-loss provisions and lower profit.
February 3
