Law and regulation

WASHINGTON — The House Financial Services Committee approved a bill this week that would increase the mobility of mortgage originators who take a new job across state lines or move from a federally regulated bank to a nonbank.

The regulatory system is "broken from start to finish" and is allowing banks and other big firms to wear down regulators until they get what they want, Sen. Elizabeth Warren said in a speech Thursday.

The agency recently cited providing equal access to small-business loans as one of nine top priorities for the next two years, saying it plans to build a team dedicated to the issue and infrastructure "to intake and analyze small-business lending complaints." But bankers worry it may go too far.

Lenders are becoming more reluctant to share closing documents with real estate agents now that they have more responsibility for them, the National Association of Realtors claimed Thursday.

Bank of America's mobile app can do almost everything that used to require a branch visit, says Michelle Moore; Lebenthal and four other women-owned firms land a big deal on Wall Street; Sallie Krawcheck joins the board of Blythe Masters' blockchain startup; Morgan Stanley's Carla Harris says both skills and spirituality contributed to her success. Also, the woman Obama is considering for the Supreme Court seat.

Oversight of the four largest mortgage servicers' compliance with the national mortgage settlement is officially over, the watchdog overseeing the process said Thursday.

Complying with legal and credit bureau criteria for data furnishers is just one of the compelling reasons why a marketplace lender may take a pass on reporting credit data.

WASHINGTON — The Financial Stability Oversight Council said Wednesday that it would not rescind its designation of the insurance giant MetLife as a systemically important financial institution, a move that comes as the firm's legal challenge to that label is being mulled in federal court.

The House Financial Services Committee approved a bill 34-22 Wednesday that would require financial regulators to tailor rules to ensure they are appropriate for small banks — but the measure continues to face significant Democratic opposition.

WASHINGTON — Loan demand over the last six weeks has remained moderate, albeit inconsistent, as financial markets continue to be concerned about the fallout from sustained low commodity prices and the strong dollar, according to a report issued Wednesday by the Federal Reserve.

The Consumer Financial Protection Bureau on Wednesday ordered online payment processor Dwolla Inc. to pay a $100,000 fine for deceiving customers about its security practices — the first action it has taken related to data security.

Senate Banking Committee Chairman Richard Shelby's easy victory in his primary battle in Alabama is fueling hopes he may soon move forward on a number of key financial nominations.

In almost any other election cycle, bankers would be celebrating the fact that a Republican candidate has emerged so far in front of the pack and would quickly fall in line behind him. But this has been anything but a normal election cycle, and there are a whole host of reasons that bankers will be at least as reluctant to embrace the outspoken businessman Donald Trump as the Republican establishment has been.

The Financial Crimes Enforcement Network's revocation of orders finding certain foreign banks to pose substantial money laundering risk shows the agency is trying to evade scrutiny as it pushes the banks out of business, according to observers.

Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey by the American Bankers Association.

WASHINGTON — The House Financial Services Committee will hold a vote Wednesday on a bill that would provide regulatory relief for financial institutions that are not considered systemically important.

The Clearing House has picked Federal Reserve economists William R. Nelson and Francisco Covas to lead its research arm.

The mortgage servicer said it has received letters from the Securities and Exchange Commission regarding separate probes into its collection practices and fees.

Sunstate Bank in Miami has been released from an enforcement action that had required it to strengthen its anti-money-laundering controls.

Estimates of nonbank mortgage providers that will close or change hands should worry consumers and policymakers about access to credit.