Law and regulation

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.

Fannie Mae overpaid its servicers by roughly $89 million last year due to errors made during a manual review by a third-party vendor, according to an inspector general's report released Wednesday.

The first thing President Obama should have done after Larry Summers’ withdrawal was nominate Janet Yellen to be Fed chairman. Appointing the first woman to lead the Fed should be a historic moment. Obama has turned it into a consolation prize.

WASHINGTON — The Consumer Financial Protection Bureau on Tuesday updated its exam manual for payday lenders to include how examiners will check for harm against military personnel.

A white paper suggests the CFPB is headed in the wrong direction by continually adding more "clarifications" — and complexity — in rules and regulations, suggesting the agency should focus instead on a clear set of guidelines for institutions.

Lawmakers are scheduled to examine concerns on Wednesday that a hike in flood insurance premiums set to go into effect this fall could topple the still weakened real estate market.

Incessant lawsuits and enforcement actions convert a taxpayer problem into a shareholder concern, immune to lobbying efforts. The surge will lead to restructuring efforts, including spinoffs, as managers seek to simplify operations and improve performance.

In an email to employees, Jamie Dimon said the company is focused on eliminating products and services that aren't core to the business, while also boosting compliance with regulatory initiatives and improving oversight of outside vendors.

Bank of America Corp., the second-largest U.S. bank, said it could survive a deep U.S. recession that includes a 21 percent drop in housing prices and an 11.7 percent jobless rate.

In the wake of Larry Summers' withdrawal from consideration as Fed chair, many speculate that Janet Yellen is now the leading candidate to assume the post. Yet there are signs the White House may go in another direction, according to industry officials.