Law and regulation

New York state regulators have proposed a sweeping set of rules to reform the force-placed insurance industry, in the latest sign that the government is taking steps to correct what critics call an abusive industry practice that overcharges homeowners.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Sevier County Bank in Tennessee decided its loyal customers are its best promotion and created an interactive blog about their experiences with the bank, including the story of one woman who goes 20 miles out of her way to keep banking there.

Regulators need to get cracking on Dodd-Frank rules, and the Fed needs a chairman who understands the impact of policies on the middle class.

The New York bank has agreed to pay a giant settlement to Washington regulators in a bid to put its London Whale trading debacle behind it. However, the deal is likely to raise as many questions as it answers and will by no means put to rest the bank's many legal and regulatory problems. American Banker editors discuss.

The Office of the Comptroller of the Currency has slapped JPMorgan Chase with a cease and desist order related to the bank's debt collection practices and its failure to comply with the Servicemembers Civil Relief Act.

JPMorgan Chase will pay $920 million in regulatory fines related to its London Whale trading scandal, adding to the $6 billion in losses the bank already took as a result of the trades.

AARP wants the Ohio Supreme Court to sanction a collection agency for bringing a lawsuit that the debtor alleges had no legal basis and that also sought damages well beyond those permitted by law.

Many banks consider money transmission to Somalia too risky because of concerns about terrorism. But U.S. Bancorp continues to pursue a relationship with Dahabshiil, the largest Somali money transmitter, whereas Barclays dropped the business citing the risk.

Black and Hispanic mortgage borrowers had lower credit scores and higher default rates than Asian and non-Hispanic white borrowers, according to analysis released Wednesday by the Federal Reserve Board.

Federal Reserve Board Chairman Ben Bernanke on Wednesday avoided giving specifics on how the central bank will oversee a growing list of nonbank financial companies deemed systemically risky.

The Treasury Department will receive $91 million from its latest auction. The agency announced plans last week to auction nearly $118 million of securities from several small banks.

Comptroller of the Currency Thomas Curry has asked a recently formed team of federal financial regulators to determine if supervisors are prepared to deal with cyber threats and whether more legislation is needed to confront the issue.

Community banks should do some serious soul searching about their mortgage operations as they approach the CFPB's January implementation deadline.

A former senior commercial loan officer at the failed Bank of the Commonwealth in Norfolk, Va., has been sentenced to 17 years in federal prison for hiding bad loans from regulators.

With proposals afoot in both chambers of Congress, and President Obama moving the issue to the forefront, we can dramatically modernize our country’s housing finance system.

The Bitcoin Foundation, a trade group, is urging the Federal Election Commission (FEC) to allow bitcoins to be used for federal political contributions.

The Federal Housing Administration's share of the mortgage market continued to drop in 2012, falling to 27% of first-lien mortgages after years of representing more than 30% of originations, according to data released Wednesday by federal regulators.

Emclaire Financial in Emlenton, Pa., has partly redeemed preferred stock it issued through the Small Business Lending Fund.