Law and regulation

A recent CFPB study lays the groundwork to roll back financial firms' use of arbitration clauses. But rather than protecting consumers, such a measure could wind up forcing people into costly and time-consuming lawsuits.

Wall Street's favored bank-resolution strategy would virtually guarantee future bailouts while imposing the costs on taxpayers and ordinary investors. At the very least, the damage can be mitigated with three key reforms.

Although overall lending was a bright spot in the Federal Reserve Board's report on economic activity released Wednesday, some bankers surveyed said excessive regulation is crimping commercial lending.

Federal Reserve Board Chair Janet Yellen sounded at least open to the idea that new regulations have contributed to potential liquidity problems, but said more study is needed.

The Consumer Financial Protection Bureau's massive collection of consumer data continued to raise concerns with lawmakers on Wednesday despite assurances from the agency's director that the data is anonymized. Lawmakers also voiced worries that the agency is inappropriately targeting auto dealers.

WASHINGTON — Senate Democrats unveiled a bill Wednesday that would require banks and debt buyers to ensure that a consumer's credit report is updated when debt is extinguished through bankruptcy.

Federal Housing Administration endorsements continue to rise following the 50-basis point cut in January.

Nobody wants a big-bank bailout, but compared to the risk of contagion, it's the lesser of two evils.

Banks often complain that the Federal Reserve's zero percent interest rate policy has been hard on profits. But they may not be as informed about the long-term negative effects of the Fed's annual inflation target of 2%.

Three Democratic members of Congress called on the Department of Housing and Urban Development to reissue the proposal for public comment with changes.

Sens. Elizabeth Warren and Sherrod Brown called for continued vigilance to counter efforts to undermine the 2010 law.

The onetime track star was a fixture at the Mortgage Bankers Association for nearly 20 years and a familiar face at industry conferences.

WASHINGTON — The House passed a bill Tuesday that could ease the regulatory burden on community and regional banks with mortgage servicing businesses.

American Honda Finance Corp. has agreed to pay $24 million to consumers and lower the dealer price caps to settle federal charges that minorities received higher-cost auto loans than white borrowers.

Treasury Deputy Secretary Sarah Bloom Raskin told a group of bankers that law enforcement and regulators need to declassify more information so banks can protect themselves.

Most banks ask executives to coordinate a vast patchwork of regulation in addition to managing their day jobs. They'd be better off putting one person in charge of regulatory communication, remediation and coordination.

The Dodd-Frank Act orders regulators to create diversity standards that govern financial institutions' hiring and contracting practices. So why did they shy away from the chance to propose clear, measurable reporting requirements?

Gov. Scott Walker sided with banking and other financial groups that opposed legislation letting payday lending companies offer insurance, annuities and other financial products.

Those looking for easy answers from a government report about what caused recent volatility in the Treasury markets — including whether regulation is to blame — were likely disappointed.

Sunshine Financial in Tallahassee, Fla., has asked for permission to switch to a state bank charter from a federal thrift charter.