Law and regulation

Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, has announced that he will not run for majority leader to replace Rep. Eric Cantor.

A down payment remains a high hurdle for consumers seeking mortgages. Lowering this hurdle increasingly seems in line with industry and regulatory goals-assuming borrowers don't default. There's the rub.

HSBC Chairman Douglas Flint had some advice for bank executives meeting in London last week: Read up on how the U.S. uses financial warfare against its enemies in a foreign-policy shift that's entangling lenders.

A new trade group is making an effort to educate veterans about the lesser-known, low-down-payment, government-backed loan program, while the Department of Veterans Affairs works to clarify rules and recruit appraisers.

The House Financial Services Committee approved a series of bills on Wednesday, including several key changes to the Consumer Financial Protection Bureau and the Financial Stability Oversight Council.

The Consumer Financial Protection Bureau Wednesday said it will take a harder look into mobile financial services to see the potential for consumer harm and determine the impact on the underbanked.

Majority Leader Eric Cantor's stunning defeat in Virginia's Republican primary Tuesday evening could usher in a new political era for the House — one that's likely to leave its imprint on the banking industry.

The Office of the Comptroller of the Currency said Tuesday it has named Jennifer Kelly chief national examiner.

The Consumer Financial Protection Bureau is taking longer than expected to issue rules on financial products like prepaid cards, payday loans, and student loans but Director Richard Cordray sought to reassure lawmakers Tuesday the agency would address many of those areas within the year.

The Massachusetts attorney general's lawsuit against Fannie Mae and Freddie Mac seeks to aid a nonprofit whose CEO has close political ties to Martha Coakley's gubernatorial campaign.

The Federal Deposit Insurance Corp.'s outspoken vice chairman told bankers that curbing the "misdeeds" that prompted higher regulatory burden is better than just seeking exemptions for some.

Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, is requesting additional information from the Federal Deposit Insurance Corporation about its involvement in Operation Choke Point.

Lenders are relaxing overlays and adjusting pricing to attract more VA business.

American Banker asked readers, BankThink contributors and staff members to recommend books for bankers to take on their summer vacations. Share your own suggestions in the comments section below.

The House approved a bill Monday evening to modify the calculation of certain "points and fees" under the Consumer Financial Protection Bureau's qualified mortgage rule.

WASHINGTON — A recent Supreme Court ruling concerning a tribal casino and state authorities has sparked a debate about whether the decision could extend to curtailing payday lenders that claim their affiliation with Native American tribes frees them from state and federal consumer protection laws.

Loan reserving is one of the most important decisions in banking. Yet there is no accounting, regulatory or industry numerical guideline for “adequate” levels of the allowance for loan losses.

Federal Reserve Gov. Daniel Tarullo on Monday said a slew of new regulations imposed on the biggest U.S. financial institutions should influence how banks make risky bets.

Lenders are seeking fixes to a proposal by the Consumer Financial Protection Bureau that would allow institutions to repay points and fees that inadvertently exceeded the "qualified mortgage" rule.

A recent Supreme Court ruling concerning a tribal casino and state authorities has sparked a debate about whether the decision could extend to curtailing payday lenders that claim their affiliation with Native American tribes frees them from state and federal consumer protection laws.