Law and regulation

The Federal Reserve Board has released Fentura Financial in Fenton, Mich., from an enforcement action.

With the fate of debit interchange rates wrapped tightly in legal red tape, the payments industry is facing uncertainty at a time it can least afford it.

Efforts to overhaul the mortgage finance system are gaining momentum, but key logistical hurdles remain as lawmakers prepare to return from the August recess.

Fannie Mae was able to extract an $11.6 billion mortgage-repurchase settlement from Bank of America (BAC) this year — its largest to date — because the bank needed Fannie's approval to sell billions of dollars in servicing rights.

By advocating for their outdated tax exemption, credit union lobbyists are advocating for a tax increase on every business in America.

Several money transmitters are offering their state licensing portfolio to emerging payments agents, allowing them to get to market quicker — but startups lose some autonomy if they go this route.

Fannie Mae used its authority over Bank of America's sales of mortgage-servicing rights to resolve a bitter dispute involving mortgage repurchases, the inspector general of the Federal Housing Finance Agency says.

Things are bad, very bad, for the large banks when the Atlantic magazine runs this headline: "Did Bank of America's Long Hours Kill a Summer Intern?"

Steve Bartlett is joining Treliant Risk Advisors early next month. It'll be a part-time gig, but the former Financial Services Roundtable CEO plans to make Treliant his home base for the range of consulting work he's picked up since leaving the Roundtable late last year.

WASHINGTON — Regulators have officially gone back to the drawing board in trying to implement Dodd-Frank Act restrictions on securitized mortgages.

A heavyweight panel including former bank regulator Sheila Bair cautioned Wednesday that the Federal Reserve must take a clear and steady direction out of its "experimental" monetary policies so as not to further harm the economy.

The Federal Reserve Board said it will appeal a judge's decision invalidating the central bank's interchange fee cap, while both the Fed and merchant groups asked for more time before the lower court ruling takes effect.

According to a report released by the Consumer Financial Protection Bureau, mortgage servicing issues continue to be a significant problem despite the efforts of a renewed focus after the foreclosure crisis.

The group unveiled a new white paper Wednesday that outlines two alternative proposals for integrating affordable housing into the larger mortgage finance reform debate.

The Federal Reserve Board will appeal a court ruling that calls for the central bank’s debit swipe fee cap to be invalidated, its top lawyer said.

Despite better-than-expected returns so far, industry observers believe that the Treasury Department will take larger haircuts at is unloads less desirable stakes in banks.

Mortgage servicing issues continue to be a significant problem despite a renewed focus on the area in the wake of the foreclosure crisis, according to a report issued Wednesday by the Consumer Financial Protection Bureau.

Morgan Drexen, a debt-relief provider, is being sued by the Consumer Financial Protection Bureau for false marketing a month after the same company filed suit against the agency.

Policymakers and law enforcement should work with the Bitcoin community to realize the potential benefits of censorship-resistant money—and to develop tools and techniques to address the technology’s potential misuse.

Sen. Elizabeth Warren, D-Mass., is pressuring the Department of Justice for more details related to payments made to the Federal Housing Administration as part of the $25 billion mortgage servicing settlement announced last year.