Law and regulation

New York financial regulator Benjamin Lawsky is urging the state to make it harder for debt collectors to win court judgments using shoddy documentation.

JPMorgan Chase & Co. (JPM) has reached a tentative resolution of all civil mortgage-bond related matters with the Department of Justice under which it will pay a record $13 billion, a person familiar with settlement talks said.

JPMorgan Chase's settlement talks with U.S. authorities over its sale of mortgage bonds include a tentative agreement for about $4 billion with the Federal Housing Finance Agency, according to a person familiar with the matter.

Enforcement actions relating to anti-money laundering rules and the Bank Secrecy Act were a prominent theme in the Office of the Comptroller of the Currency's monthly round-up of orders issued from late August through September.

FHFA Acting Director Ed DeMarco has been vague about why the regulator rejected Fannie’s force-placed proposal, a decision that has drawn sharp criticism from consumer advocates.

The qualified mortgage rule remains the big unknown in the mortgage industry just three months before it's scheduled to become law of the land. We speak with officers of the New York Association of Mortgage Brokers about how they're prepping for this brave new world.

For a company facing as much public scrutiny as JPMorgan Chase (JPM), even the smallest strategic move can ignite a firestorm of speculation about what’s really behind its actions.

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

The Federal Trade Commission should take more steps to police the acquiring industry and halt fraudulent practices, says Robert Carr, longtime CEO of Heartland Payment Systems Inc.

Regulators are finalizing the details of a proposal designed to help buffer against a prolonged market crisis by instituting a liquidity requirement for financial institutions. The proposal is expected as early as this summer.

U.S. banking regulators plan to issue a proposal soon that would require U.S. financial institutions to hold long-term debt to minimize risks should a firm fail, a top Federal Reserve official said on Friday.

Over the past few years, Wall Street’s collapse has led to a crackdown that’s put many wrongful practices off limits, but it remains a place where a lot of very bad behavior continues to take place out in the open.

In an advisory, the Federal Deposit Insurance Corp. urged banks to be mindful of gaps in liability coverage for director and officer lawsuits – the same lawsuits the FDIC is filing against failed-bank managers.

A British court has forced the Wall Street Journal to backpedal after publishing the names of traders and brokers the government plans to charge with manipulating benchmark interest rates.

The Federal Reserve Board has taken action against the U.S. branch of Germany's Commerzbank for failing to comply with anti-money-laundering regulations.

Mortgage lender Household International Inc., which is now HSBC Finance Corp., must pay an estimated $2.46 billion in a class-action lawsuit claiming it violated federal securities laws.

Timothy Geithner hasn't been Treasury secretary for months, but he gets his name on the new $100 bills that went into circulation last week.

Federal Reserve Bank of Richmond President Jeffrey Lacker said bankruptcy without government support is "the first and most preferable option" in the event of a failure by a big financial institution.

Many payments companies see a conflict between innovation and regulation, with each side perceiving the other as out of touch with their needs, particularly when it comes to new technology.

Regulators are nearing completion of a landmark proposal that would institute a liquidity requirement for financial institutions designed to help buffer against a prolonged market crisis.