Law and regulation

Sen. Bernie Sanders' victory in New Hampshire will undoubtedly boost his campaign, but his plan to cap interest rates for credit card and other consumer loans at 15% won't help anyone in the short term and could potentially wreak havoc on low-income people in the long term. Here's how.

The proposal is unlikely to pass, but does shed light on the administration's plans for housing finance reform, how it views cybersecurity progress and a proposed tax on bank liabilities that could become a reality if a Democrat takes the White House in November.

Broadway Financial in Los Angeles has been released from an enforcement action administered by the Federal Reserve.

Bankers, irate with the NCUA's plan to expand field-of-membership for certain credit unions, are flooding the agency with comment letters. The NCUA has received 10,500 total letters, or more than triple the previous record for such responses.

Ted Tozer, president of the Government National Mortgage Agency, wants more hands to monitor the growing number of nonbank MBS issuers.

U.S. Bancorp agreed to pay $10 million while Banco Santander settled for $3.4 million following missteps in how they handled earlier orders from regulators to fix faulty foreclosure practices, according to the Office of the Comptroller of the Currency.

Stephen Steinour, chief executive of Huntington Bancshares in Columbus, Ohio, has pursued a risky strategy of taking losses in exchange for adding new customers, the Cleveland Plain Dealer reported.

A bipartisan group of lawmakers is poised to introduce a bill Tuesday that would streamline quarterly call reports in an effort to help ease the compliance burden on the community banks.

Overhauling the S&L crisis-era method for intervening in struggling banks, which did not live up to expectations during the 2008 meltdown, should be a higher priority.

The U.S. could be the next country to introduce gender quotas for corporate board members and nominees.

Former JPMorgan Chase executive Achilles Macris was fined $1.1 million for failing to tell authorities about concerns he had with the bank's activities in the "London Whale" case.

The Federal Home Loan Bank System was designed to provide liquidity to community lenders and traditional insurers, not to unregulated lenders that circumvent the membership rules.

The Obama administration announced a new cybersecurity strategy on Tuesday, calling for a 35% increase in funding to bolster private and public defenses and the creation of a new chief information security officer position for the government.

The White House and other Democrats have long pushed for banks to offer affordable small-dollar loans as an alternative to payday loans and other costlier credit, but banks have struggled to make them profitable and safe for consumers.

Fantasy sports sites FanDuel Inc. and DraftKings Inc., already facing mounting legal and regulatory scrutiny, ran into more trouble when Citigroup Inc. said it was blocking transactions by New York state residents.

The election of a Republican president could be the first prerequisite to repealing the financial reform law, but banks still need to argue their case for why repeal is necessary.

The senator from Vermont and avowed "Democratic socialist" is unlikely to prevail in his campaign against Hillary Clinton, but he has unexpectedly generated excitement among young voters and may be forcing Clinton to the left on certain issues.

Fantasy sports sites FanDuel and DraftKings, already facing mounting legal and regulatory scrutiny, ran into more trouble when Citigroup said it was blocking transactions by New York state residents.

Mortgage REIT says five-year transition plan won't have an impact on its financing model.

HSBC North America Holdings has agreed to pay $470 million to settle allegations it engaged in abusive practices in its mortgage foreclosure, origination and servicing operations.