Law and regulation

The agency's inspector general says the FHFA repeatedly has deferred key decisions to Fannie and Freddie without independently testing their decisions.

It's hard to pin down precise numbers, but anecdotal reports in news outlets across the country suggest that hundreds of thousands of Americans responded to "National Transfer Day" campaign by switching their deposits from major banks to credit unions.

The California Democrat still faces an ethics probe, which could hurt her chances to move into the top spot on the House Financial Services Committee, but appears to have the edge so far.

Throughout his career, Barney Frank was unapologetic about his strong positions, but his legacy will be his ability to work the legislative process to his advantage.

During the last century, economic growth in the United States was unparalleled. A large portion of that growth came from the explosion of capital formation for small companies. It is high time that America gets back to that future.

Several community banks have decided to forgo an appeal of decisions by major stock exchanges to delist their shares, deciding the benefits of a listing aren't worth the cost of the fight.

The Federal Housing Finance Agency released its final rule providing guidelines and procedures on the voluntary merger of any of the 12 Federal Home Loan Banks.

Citigroup Inc.'s $285 million settlement with the U.S. Securities and Exchange Commission over mortgage-backed securities was rejected by federal judge who said he hadn't been given enough facts to approve it.

The Consumer Financial Protection Bureau sets up offices to oversee three financially vulnerable groups.

Rep. Barney Frank, D-Mass., will announce today that he will not seek re-election next year, capping a 32-year career in Congress, a spokesman said Monday.

Banks are going to need to make hard decisions to exit some traditional businesses. The question is how to do it to maximize what you get at the exit, and in such a way that remaining businesses can thrive.

Joseph Longino, the point man on accounting and regulatory matters at Sandler O'Neill & Partners LP, will join the advisory council of the Financial Accounting Standards Board next year.

The PMI Group Inc., Walnut Creek, Calif., has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.

The Fed's approval marks the first time a prepaid card company has been allowed to buy a bank. Fed Gov. Duke objected, warning that the deal was too risky.

The new sanctions will add to a growing web of requirements facing U.S. banks, but government officials argue that the cost of compliance will be small.

Steven Horton, acting president and chief executive officer of the Federal Home Loan Bank of Seattle, is retiring, the bank said Wednesday.

With the one-year deadline for implementing new Basel banking rules looming, Canada's model for implementing so-called nonviability contingent capital is attracting widespread interest from global regulators.

Illinois Attorney General Lisa Madigan plans to fight the use of arrest warrants by collectors, vowing in a recent interview to push judges to stop the practice and promising to pursue enforcement against companies that seek such warrants under Illinois law.

Federal Reserve Chairman Ben S. Bernanke and fellow U.S. policymakers may find themselves hampered in restoring financial stability should the European debt crisis spread to America.

The central bank said it will begin a comprehensive capital analysis of 31 financial institutions, including a new round of stress testing for 19 of those banks. Such institutions must be "well prepared" to meet new international capital standards when they file capital plans next year, according to the Fed.