Law and regulation

The Consumer Financial Protection Bureau on Tuesday asked a federal court to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

The Federal Housing Administration said Tuesday that it has revised its proposed lender certification requirements in an effort to provide more clarity and reassure lenders they won't be penalized for minor loan defects or mistakes.

The FDIC allegedly rigged exam reports, selectively leaked information to a competitor and hampered a firm's acquisition plans in order to force banks from offering refund anticipation loans.

The Federal Deposit Insurance Corp. approved a final rule Tuesday that will reconfigure bank assessments once federal reserves reach a statutory threshold.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

Ginnie Mae needs more, and better-paid, staff to keep up with growing risks on nonbank seller/servicers, the watchdog agency head said.

Risk is building in nonbank companies that are closely linked with regulated institutions but that have not faced the kind of stiff rules imposed on banks since the financial crisis.

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations. But will it make a difference?

Republicans currently hold a 54 — 46 advantage over Democrats in the Senate, making the GOP grip on the Senate precarious at best. With the election a little less than eight months away, Republicans also have more vulnerable seats up for reelection, leaving many analysts speculating the Democrats will retake the chamber. Following are the races bankers need to watch.

To hear some former examiners tell it, companies that are hostile during the exam process may get dinged more often than those that show respect and professionalism. Following are tips to ensure bankers do better on their next exam.

Since the financial crisis, there has been a consensus that bankers need to repair their corporate cultures in order to fix the reputation damage during the housing collapse. But some bankers are saying it needs to be a more coordinated effort.

The more welcoming European regulatory environment for blockchain developers could take the competitive edge away from U.S. banks unless regulators here start championing fintech innovation.

We are reminded frequently that policies with the best intentions often do not reach their intended recipients and at times lead to previously unforeseen issues.

The Wisconsin Department of Financial Institutions closed the $67.1 million-asset North Milwaukee State Bank on Friday.

Fannie Mae and Freddie Mac gave $186 million to the National Housing Trust Fund, their first such contributions to a fund designed to provide construction and rehabilitation of rental housing for low-income families.

A left-leaning group is attacking one of the most prominent Democrats in Washington as being insufficiently tough on payday lenders. The ad shows how once-obscure financial issues are commanding a higher profile this election season.

Comptroller of the Currency Thomas Curry's unexpected announcement this week that his agency may craft new guidelines to deal with de-risking is generating concerns from bankers instead of putting them at ease.

The Federal Home Loan Bank of San Francisco is exploring ways to use $40 million it received as part of a private-label securities settlement to support small-business development and job creation to help future homebuyers.

The international panel issued a consultative document outlining suggested updates to its so-called Pillar III disclosure rules, including simple and comparable metrics for market risk, counterparty credit risk, operational risk and Total Loss Absorbing Capacity.

Ray Grace, North Carolina's banking commissioner, believes federal bank regulators should embrace charters for banks dedicated to innovation. Doing so, he said, would help the banking industry secure its spot as a "laboratory for change."