Law and regulation

Banks and mortgage lenders may have received too much relief from loan buybacks, putting taxpayers at greater risk for losses, according to a Federal Housing Finance Agency inspector general's report.

In his first major policy speech as the new housing secretary, Julian Castro voiced support for a Senate bill to reform housing finance and said policymakers should "remove the stigma associated with promoting homeownership."

The Federal Housing Finance Agency's plan to restrict membership to the Federal Home Loan Bank System could cost lenders hundreds of billions in mortgage funding, according to the CEO of the Chicago FHLB.

The Senate Banking Committee debated a host of regulatory relief issues Tuesday, among them the question of whether examiners are holding small banks to unreasonable standards.

The Consumer Financial Protection Bureau suit against Corinthian Colleges is the second time the agency has taken public action against a for-profit school rather than a student lender.

WASHINGTON — The Consumer Financial Protection Bureau has filed a complaint against Corinthian Colleges alleging the for-profit chain of colleges ran a predatory lending scheme and used unlawful debt collection practices.

A federal court in North Carolina ruled against the Federal Deposit Insurance Corp.'s multimillion-dollar loan loss claim against Cooperative Bank.

Bankers can attempt to remedy confusing and ineffective consumer protection laws by assembling a task force of experienced bank attorneys and compliance officers to draft model legislation.

The Federal Housing Administration raised mortgage insurance fees during the financial crisis in order to cover a wave of defaults. Now that the housing market has steadied, the agency should adjust its policies.

U.S. regulators are continuing to send a clear message about global financial services standards forged with other countries: they're not strong enough.

Tim Pawlenty, the former Minnesota governor turned bank lobbyist, is backing down from an election-style campaign against the Consumer Financial Protection Bureau after complaints from the firms he represents.

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House leaders are pushing to bring a bill on capital standards for non-banks to a vote on the floor this week, part of a larger package of reforms to the Dodd-Frank Act, according to several industry sources.

It's not clear there's time left in the legislative calendar for President Obama to fill the final two slots on the Federal Reserve Board this year, raising questions about what happens to those seats after the elections.

WASHINGTON — The Consumer Financial Protection Bureau has finalized a rule subjecting large nonbank international money transmitters to supervision by the bureau.

Just two days after Apple unveiled its new program designed to speed the adoption and use of mobile payments, Consumer Financial Protection Bureau Director Richard Cordray cited the burgeoning field as a key area of concern.

The Treasury Department is monitoring Wall Street efforts to escape U.S. swap-trading restrictions for overseas derivatives, according to a department official.

A top advisor to Treasury Secretary Jack Lew says real estate investment trusts "appear to be aligned" with the Federal Home Loan Banks' mission. The Federal Housing Finance Agency wants to boot REITs from the FHLB system.

Two days after Apple unveiled its attempt to advance mobile payments, CFPB Director Richard Cordray cited the burgeoning field as a key area of concern his agency needs to examine.

The American Association of Bank Directors recently hired policy veteran Rich Whiting as executive director, and he immediately helped weigh in on some new OCC standards that concerned the trade group.