Law and regulation

In a wide-ranging speech on Tuesday, new FHFA Director Mel Watt said he would not weigh in on the housing finance reform debate percolating in Congress, while also detailing what changes he plans to make at the agency, including encouraging more access to credit.

U.S. authorities are seeking more than $3.5 billion from BNP Paribas SA to resolve federal and state investigations into the lender's dealings with sanctioned countries including Sudan and Iran, according to people familiar with the matter.

WASHINGTON — A House subcommittee announced Tuesday that it has scheduled a meeting on May 21 to hear from three officials at the Consumer Financial Protection Bureau who were recently subpoenaed to testify on allegations of employee discrimination and retaliation at the agency.

Advocates of mandatory arbitration say that it is cheaper than litigation and just as fair to consumers. Both claims are suspect.

Connecticut's top banking regulator on Monday warned investors about the dangers of Bitcoin.

Connecticut's top banking regulator on Monday warned investors about the dangers of bitcoin.

Freddie Mac, which along with Fannie Mae has forced home lenders to buy back tens of billions of dollars of flawed mortgages, said the companies are loosening rules that made banks more cautious about extending credit.

The Senate Banking Committee will renew its markup of legislation to overhaul the housing finance system on Thursday, after abruptly postponing the deliberations late last month.

Between Operation Choke Point and anti-laundering regulations, financial institutions are going to new lengths to avoid anything even remotely associated with illegality — raising questions of fairness, slippery slopes and self-preservation.

Lenders and loan officers are increasingly using social media to scout for customers, raising a host of compliance concerns, from preventing unauthorized use of brands to monitoring employee communications.

Though Vice Chairman Thomas Hoenig and board member Jeremiah Norton must defer to Chairman Martin Gruenberg on setting the Federal Deposit Insurance Corp.'s agenda, the two directors have still found ways to affect policy, particularly on new capital rules for the biggest banks.

Mutual funds pose no threat to the stability of the financial system. Yet regulators appear determined to designate them as systemically important financial institutions-a move that could hurt millions of Americans who depend on the funds as retirement savings vehicles.

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The Senate Banking Committee is said to be moving toward a vote on major housing finance reform legislation next week, but the effort is likely to attract no more than 13 votes, falling short of what would be needed to advance the bill to the Senate floor this year.

On Wednesday, the Federal Financial Institutions Examination Council announced plans for cybersecurity risk assessments of banks during a webinar.

The Federal Reserve announced on Friday that it will conduct a new round of testing of its Term Deposit Facility, in an effort to help banks become familiar with how it works.

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

Six Democrats whose support is crucial to a U.S. Senate plan to replace government-owned mortgage firms Fannie Mae and Freddie Mac have decided they won't support the proposal without major revisions, dimming its chances of becoming law this year.

The Federal Reserve is seeking input on a measure that would bar U.S. banks from acquisitions that push their share of all financial-company liabilities above a 10% threshold.

Federal Reserve Board Gov. Daniel Tarullo endorsed dropping Basel II's internal ratings-based approach to risk-weighted capital requirements and specifically carving out exemptions for community banks from certain rules.