Law and regulation

The Republican-led House approved a bill Thursday evening that would drastically alter the structure of the Consumer Financial Protection Bureau.

Consumers facing mortgage trouble want help and are looking everywhere for it. Paying close attention to where and how homeowners seek information is how the servicing industry will put itself on the fast track to a better reputation.

Some governments are getting into the digital currency game, offering their own alternatives to cash with traits that differ in meaningful ways from cross-border cryptocurrencies like Bitcoin.

The National Fair Housing Alliance is accelerating efforts to force mortgage lenders, servicers and trustees to do a better job of maintaining foreclosed properties in minority neighborhoods.

After pressure from Sen. Elizabeth Warren, Fed Chair Janet Yellen said she agreed with a proposal to require the central bank's board to vote on significant enforcement actions.

Credit unions' tax exemption looks safe again this year on Capitol Hill, but that didn't stop the American Bankers Association from mounting an intense advertising and lobbying attack that also served as rallying cry for the Credit Union National Association.

Calling Bitcoin a "payment innovation," Fed Chair Janet Yellen said it is not easy to supervise the digital currency because "there's no central issuer or network operation."

Federal Reserve Board Chair Janet Yellen said today that the central bank does not have the power to supervise Bitcoin, the most widely-recognized digital currency.

Instead of dwelling on tired arguments, industry reps and consumer advocates should focus on, among other things, ending the debt cycle, promoting financial literacy and helping borrowers build credit.

The U.S. payments industry has long agreed to disagree on the way to properly route EMV debit transactions, stalling the country's shift to chip-based cards. First Data hopes its decision to support and share Visa's technology will finally break the stalemate.

A federal judge ruled Wednesday that the hedge fund's lawsuit against the government will not be thrown out of court, allowing it to proceed with discovery.

Bank of America officials said Wednesday that the federal government made a mistake when calculating a proposed penalty on its gross "gain" from defective mortgages sold by its Countrywide unit.

The FDIC released its Quarterly Banking Profile on Wednesday, detailing the highs and lows for banks in the fourth quarter and for all of 2013. Following are some of the key points unveiled:

The U.S. Consumer Financial Protection Bureau is asking banks to voluntarily provide their customers with credit scores used to make lending decisions.

The need that drives millions of people to seek out small loans isn’t going away. Lenders can fill the gap by restructuring payment models, focusing on a borrower’s ability to repay and developing a variety of solutions.

The virtual currency and payment system "has allowed users to participate in illicit activity, while also being highly unstable and disruptive to our economy," Sen. Joe Manchin wrote to regulators in a public letter released Wednesday.

Do we really want banks to be stable, profitable and internationally competitive or do we want them to be cash cows for Congress?

Chances are remote that Congress will pass a big bank tax into law this year, but House Republicans' sudden embrace of the idea suggests it has staying power.

Sen. Joe Manchin (D-W.Va.) wants federal regulators to ban Bitcoin.

Thirteen Democratic lawmakers are encouraging the Department of Justice not to cave in the face of Republican opposition to a crackdown on online payday lenders.