Law and regulation

WASHINGTON — The Federal Deposit Insurance Corp. will provide an update on bank performance on Sept. 2 when it releases the Quarterly Banking Profile for the second quarter of 2015.

In a rapidly growing market outside the purview of the Truth in Lending Act or state usury caps, online lenders' rates and fees can be next to impossible to compare.

The largest bank in Tanzania has sued the U.S. Treasury Department to halt a rule that designates the bank as a "primary money laundering concern," which cuts off its access to dollar funding and may prove to be a death sentence for the institution.

First Data Corp. selected Citigroup Inc., Morgan Stanley and Bank of America Corp. to manage its initial public offering planned for this year.

When a federal appellate panel sided with the U.S. Federal Trade Commission (FTC) against the Wyndham hotel chain this week, it cemented the FTC as a power to be reckoned with for companies that have poor security.

WASHINGTON — The number of complaints about the credit reporting industry rose sharply in July, surging by 56% from a month earlier, the Consumer Financial Protection Bureau said Tuesday.

Fannie Mae is revamping its affordable mortgage program to make it easier for low- and moderate-income families to qualify for low-down-payment loans.

The CFPB is considering suing Navient Corp., the largest student loan company in the U.S., for allegedly cheating borrowers, Navient officials disclosed Monday in a Securities and Exchange Commission filing.

Loans to first-time homeowners and others with low credit scores are a big part of the Federal Housing Administration's growth in purchase mortgages since the agency cut premiums.

Phoenixville Federal Bank & and Trust in Pennsylvania has converted to a state charter.

Federal Reserve Bank of Atlanta President Dennis Lockhart said he continues to expect the first interest- rate hike in nearly a decade this year, while cautioning that a stronger dollar, a weaker Chinese yuan and falling oil prices complicate the outlook.

The sharp drop in the stock and commodities markets on Monday raised some critical questions for policymakers, touching on everything from whether asset managers are systemically risky to if the central bank would now delay raising interest rates.

WASHINGTON — A Federal Deposit Insurance Corp. publication on Monday advised banks to include cyber risk in standard disaster-planning and business-continuity exercises as part of general strategic-planning discussions.

The lack of liquidity in the bond markets has drawn significant attention from policymakers, but agreeing on what is causing it, and whether new regulations required by Dodd-Frank are to blame, may be impossible.

Families that use state-issued EBT cards often face ATM fees that eat away at their already-meager incomes. Banks should waive those fees in order to ensure that all public assistance dollars go toward household needs.

Harvard University added Joshua Friedman, co-founder of hedge fund Canyon Partners LLC, and Jeremy Stein, a former Federal Reserve Board governor, to the board overseeing its $36.4 billion endowment.

Some large U.S. banks are likely to be impacted by recent volatility in emerging markets like Brazil and China. But their opaque risk metrics make it difficult for investors to judge banks' level of exposure.

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The failure to prosecute bankers as a result of the financial crisis has sparked an ongoing debate about whether enforcement officials lacked the will to move forward with any cases — or didn't have enough proof that any crimes had been committed.

Nothing touches off an argument more than questions about whether the CFPB will allow any marketing services agreements to continue. Some mortgage lenders say no and are winding down their agreements, others insist regulators can be satisfied, and still others are just plain confused.