Law and regulation

House Majority Leader Eric Cantor's loss to an unknown Tea Party challenger sheds new light on the deep divisions in the Republican Party, which is ultimately likely to have a large impact on the debate over financial policy.

The Federal Housing Administration clamped down further on reverse mortgages, saying it will no longer insure a variant of the product featuring a fixed rate and a line of credit.

BNP Paribas is close to an agreement to plead guilty and pay $8 billion to $9 billion to settle allegations it violated U.S. sanctions, according to a person familiar with the negotiations.

American Express has hired Laureen Seeger as its new general counsel.

Regulators seized the two subsidiaries of Iowa-based River Valley Bancorp. on Friday, one in Illinois and the other in Florida.

Banking lawyers are working overtime as their employers tangle with prosecutors, regulators and private litigants in lawsuits, settlement talks and regulatory crackdowns. Here is your scorecard of legal fights over a host of issues likely to linger.

Bank of America's lawsuit against the Federal Deposit Insurance Corp. for $1.7 billion in client losses was revived after the agency said that a bank at the center of the Taylor Bean scandal may have have enough assets to pay the claims.

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Bank of America Corp. failed to win dismissal of two government lawsuits in which it's accused of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities.

The House Financial Services Committee approved legislation Friday to extend and modify the Terrorism Risk Insurance Act and make several changes to the Financial Stability Oversight Council.

The fate of living wills for the biggest banks and a new system to resolve the largest institutions has taken a back seat to other regulatory efforts in the wake of the Dodd-Frank Act. Here's why banks of all sizes need to be focused on the effort.

Independent Resource Network Corp., a Westbury, N.Y.-based independent sales organization, recently agreed to pay $400,000 and waived its right to funds in a merchant's reserve account to settle a civil suit brought by the Federal Trade Commission.

A proposal to extend and modify the Terrorism Risk Insurance Act divided the House Financial Services Committee down party lines on Thursday, and signaled the battle lines that are likely to arise when the issue is worked out between the House and Senate.

The Department of Justice and Consumer Financial Protection Bureau's joint action against GE Capital Retail Bank, which recently changed its name, stems from alleged discrimination against Hispanics and marketing of add-on products.

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.