Law and regulation

WASHINGTON — MetLife has made clear its objection to regulators designating the firm as a "systemically important financial institution," but on Monday the life insurer had the opportunity to air its concerns directly.

Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.

The Fair Housing Act bars only intentional discrimination, not all practices that have a disparate impact on racial minorities, a federal judge ruled in a victory for the financial services industry.

WASHINGTON — Banks have seen a mild uptick in retail small business lending applications in the past quarter, though most other demand indicators remain flat, according to a Federal Reserve Board report released Monday.

WASHINGTON — Federal regulators released a document summarizing their general findings from recent cybersecurity assessments at community-size financial institutions.

During the past week, consumer and industry groups have lobbied the agency in different directions, with consumer groups arguing the agency did not go far enough and lenders saying it went too far in seeking more data from lenders.

Fifth Third Bancorp has lowered fees and eased terms on short-term, small-dollar loans as it awaits clearer guidance from regulators on the product's future.

The state's superintendent of financial services has softened his stance toward bitcoin and other payment startups and has already shortened New York's money transmitter license application review process, which used to take nine months.

The New York Department of Financial Services will likely institute an on-ramp for new Bitcoin businesses — and possibly any other kind of money transmitting startups — as a way for them to launch without being burdened by costly licensing requirements.

Thanks to the rise of online and mobile banking, some banks now have significant customer bases in areas where they have little branch presence. The solution is to carve out a category of virtual banks that have tailored CRA responsibilities and examination standards.

New York may grant transitional licenses to small virtual-currency firms and startups to let them grow before facing the full burden of new regulation, the state's top financial watchdog said.

New York may offer transitional licenses to small virtual-currency firms and startups to let them grow before facing the full burden of new regulation, the state’s top financial watchdog said.

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Lenders could face tougher enforcement and higher penalties if they make errors on the new mortgage disclosure forms that are slated to go in effect next August.

The Federal Deposit Insurance Corp. on Friday released its list of enforcement actions from September, including a consent order that played a role in derailing two planned acquisitions.

Federal Housing Finance Agency Director Mel Watt has struck a conciliatory tone, seeking lenders' input and making loan-buyback rules more industry-friendly — a clear signal the administration thinks it needs bankers' help to reignite the tepid housing recovery.

Election Day is just around the corner, but control of the Senate may not be determined until early next year, raising questions about how quickly the Banking Committee could get up and running.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

WASHINGTON — Sens. Tim Johnson, D-S.D., chairman of the Banking Committee, and Sherrod Brown, D-Ohio, announced the panel will hold a hearing next month over concerns about regulatory "capture" at the bank regulatory agencies.

The net stable funding ratio issued by global regulators is aimed at ensuring a bank has enough strong liquidity to back its particular lineup of assets.