Law and regulation

Former CFPB honcho Richard Hackett is leading industry-funded studies that probe the limitations of the bureau's own research.

The Federal Housing Administration has issued guidance to lenders to prevent deceptive marketing of reverse mortgages to seniors.

Popular Inc. (BPOP) in San Juan, Puerto Rico, has received regulatory approval to exit the Troubled Asset Relief Program.

Although much of a hearing Wednesday was dominated by concerns about employee discrimination at the CFPB, Director Richard Cordray said new rules for prepaid cards were coming soon along with a study on fair lending issues related to indirect auto loans.

The Federal Housing Administration is on better financial footing thanks to an expected $418 million payment from SunTrust in a settlement resolving claims that the bank originated defective loans.

A bipartisan group of House lawmakers is calling on the White House to select a nominee to the Federal Reserve Board with community banking experience.

Federal Reserve Board Chair Janet Yellen on Wednesday offered few clues when regulators would move ahead with issuing a proposal to address risks tied to short-term wholesale funding.

WASHINGTON - The Federal Reserve Board on Wednesday continued to shrink its stimulus program by yet another $10 billion clip.

The battle over funding for a Department of Justice program to root out fraud in the payments processing industry is heating up this week, as the Senate begins consideration of the law enforcement agency's appropriations bill.

In the era of shadow banking, regulators should focus not on which asset management firms to regulate, but on which asset management activities.

Even though Bitcoin merchant processor BitPay is not required to maintain an anti-money laundering (AML) program, the startup maintains one and is beefing it up with the hiring of former Visa executive Tim Byun.

Rep. Randy Neugebauer, R-Texas, introduced a new plan Tuesday to modify and extend the Terrorism Risk Insurance Act.

Julian Castro pledged to recapitalize the FHA insurance fund and work with Congress on GSE reform but equivocated when a Senator asked about cities condemning underwater mortgages.

Several federal agencies and 49 state attorneys general struck a $968 million settlement Tuesday with SunTrust Mortgage over charges that it violated laws governing mortgage origination, servicing and foreclosures.

The California Housing Finance Agency is now offering all low- to moderate-income Californians an affordable mortgage loan program that includes down payment assistance and was originally designed for first-time buyers.

When the qualified mortgage rule took effect in January, many predicted the rule would stifle lending to low-income and minority borrowers. But a credit crunch never materialized, thanks to exemptions given to federal mortgage agencies.

Identifying which borrowers are likely to repay short-term, small-dollar loans could help lower costs for both consumers and the financial services industry.

The state of New York's crackdown on illegal online payday loans is being ratcheted up, with Bank of America (BAC) taking unprecedented steps to help state officials ferret out misconduct.

New York officials have created a database of blacklisted lenders, and Bank of America has agreed to use it. Authorities hope that other banks will follow suit.

WASHINGTON — A financial education partnership between public libraries and the Consumer Financial Protection Bureau has skyrocketed to more than 98 library systems in the two months since the pilot program launched.