Law and regulation

Wells Fargo & Co. (WFC) is among firms facing federal scrutiny of mortgage-backed securities sales under a 1989 law that the government is using to extend probes of banks' roles in the credit crisis.

More than a quarter of House lawmakers are asking the Consumer Financial Protection Bureau to delay implementation of its "qualified mortgage" rule, arguing that many smaller institutions are not going to be ready on time.

"The Consumer Financial Protection Bureau is considering new rules to govern debt collection practices that could for the first time include banks and other creditors that are collecting their own debt," writes American Banker's Rachel Witkowski.

A New Jersey town council may vote as early as today on a proposal to settle a U.S. Supreme Court case that has threatened to undercut the Obama administration's crackdown on lending discrimination.

Regions Financial received a subpoena from the U.S. Department of Housing and Urban Development tied to the origination of mortgages backed by the Federal Housing Administration.

Software-as-a-service provider BillingTree has developed an educational compliance tool to help companies follow payments regulations.

The Office of the Comptroller of the Currency has amended its consent order with Broadway Financial's (BYFC) bank.

New Consumer Financial Protection Bureau rules governing collection practices could for the first time include banks and other creditors that collect their own debt.

Wells Fargo is among firms facing federal scrutiny of mortgage-bond sales under a 1989 law the government is using to extend probes of banks' roles in the credit crisis, two people with knowledge of the matter said.

The Consumer Financial Protection Bureau is considering new rules to govern debt collection practices that could for the first time include banks and other creditors that are collecting their own debt.

Deutsche Bank's former subsidiary MortgageIT has agreed to pay $12.1 million to settle claims that it discriminated against African-American and Hispanic consumers seeking mortgage loans, the U.S. Department of Housing and Urban Development said Tuesday.

The directive bars banks that do business with Fannie and Freddie from receiving commissions from insurers, but still lets insurers provide services for free or at a reduced cost.

The Consumer Financial Protection Bureau continues to investigate several auto lenders for potential fair-lending violations.

The Senate Banking Committee dug into the details Tuesday of how to ensure that community banks retain access to a reformed housing finance system as agreement over a broad approach began to emerge.

By deleting three words from the Dodd-Frank Act, regulatory agencies could "refer to" credit ratings, which certainly makes sense, while never "requiring reliance" on them, which doesn’t.

The Federal Deposit Insurance Corp. is pushing for changes to derivatives contracts that would make it easier to wind down a major bank.

ACI Worldwide completed its $109 million acquisition of electronic billing technology developer Official Payments Holdings.

The Federal Housing Finance Agency told Fannie Mae and Freddie Mac to end reimbursements to mortgage servicers for expenses related to captive reinsurance arrangements.

Lael Brainard, the Treasury Department's top international official, is likely to be nominated to the Federal Reserve Board, according to a person familiar with the decision who requested anonymity.

HSBC dropped out of negotiations to settle a European Union antitrust probe into allegations that banks rigged Euribor lending rates, according to a person familiar with the probe.