Law and regulation

With the nominees likely clear for the Republican and Democratic presidential tickets, speculation has turned to whom Donald Trump and Hillary Clinton could pick as their running mates. A number of those names mentioned are key figures on financial policy. Following are some of the top possible picks.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, introduced legislation Thursday to reform consumer credit reporting.

The bureau said Wednesday that it plans to hold a public hearing in Kansas City, Mo., to discuss small-dollar lending. The hearing will be held at the Kansas City Convention Center and will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives and the public.

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide additional protections for seniors, including a cap on annual interest rate increases.

The Consumer Financial Protection Bureau's proposal to limit the use of arbitration clauses came under attack Wednesday for potentially raising costs and liability for financial firms.

The five federal financial agencies released guidance on Wednesday that requires financial institutions to ensure they are addressing discrepancies customers sometimes face between the amount they deposit in their account and the amount they are credited.

Bank of America and Deutsche Bank AG were among five banks sued over claims that traders conspired to manipulate the market in agency bonds, which is made up of an estimated $9 trillion of debt issued by government entities and institutions like the World Bank.

The banking industry has influenced several key features in the final beneficial ownership rule, a top official at the Treasury Department's Financial Crimes Enforcement Network said this week, while defending the rule's effectiveness.

New York's bank regulator is investigating LendingClub Corp. over loans issued to consumers and its relationships with financial institutions, saddling the embattled company with another probe after its chief executive was forced to resign earlier this month.

The Consumer Financial Protection Bureau's proposal to restrict the use of arbitration clauses would allow it to seize enormous amounts of data from financial firms that could lead to more enforcement actions, according to industry lawyers.

Requiring banks to improve records on which depositors are insured overlooks how the Federal Deposit Insurance Corp. resolves failures.

The Consumer Financial Protection Bureau found that one in five borrowers who take out short-term auto title loans have their vehicle seized for failing to repay the loan.

With the CFPB flexing its regulatory muscles, it's no surprise that collectors are making compliance a priority.

Key Democrats abruptly reversed course Tuesday concerning a monetary policy tool, saying they now support the Federal Reserve's ability to pay interest on banks' excess reserves.

The Office of the Comptroller of the Currency on Monday named Bryan Hubbard as the new deputy comptroller for public affairs.

Biscayne Bank in Miami, a community bank that focuses on serving high-net-worth individuals from the Caribbean and Latin America, has been named as an intermediary in the Panama Papers leak.

Requiring the bank regulators to disclose the numerical grades they give for capital, assets and other factors would subject them to the same market discipline they demand for banks.

LendingClub Corp., which plunged 51 percent last week after the surprise departure of its leader and disclosure of faulty internal controls, said the scandal is prompting investors to suspend debt purchases and spurring government probes.

The Supreme Court on Monday ruled that private attorneys hired by states are not in violation of the Fair Debt Collection Practices Act when using official letterhead to collect a debt. The case has been watched closely by financial institutions for its interpretation of “false, deceptive or misleading” practices.

WASHINGTON -- M&T Bank has agreed to pay $64 million to settle U.S. government allegations that it originated defective Federal Housing Administration insured loans over a five-year period.