Law and regulation

JPMorgan Chase (JPM) said it's under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.

JPMorgan Chase (JPM) said the Justice Department concluded the firm broke federal laws while handling mortgage-backed securities.

Kentucky First Federal Bancorp (KFFB) in Hazard has received regulatory approval to pay a 10-cent dividend to its public shareholders.

Pressure is mounting for bank regulators to dial back pending mortgage rules after President Obama said he's worried the housing market could become too constrained by "overlapping regulations."

A federal judge ruled that bitcoins are “a currency or form of money” and therefore subject to relevant U.S. laws in a case against a Texas man accused of creating a fraudulent Bitcoin hedge fund.

Meracord is allowing businesses to leverage its money transmitter platform and state license portfolio, a move to help startups navigate the complex and expensive regulatory environment surrounding transmitting funds.

Freddie Mac's top lawyer threatened to file suit against municipalities that attempt to use eminent domain to refinance underwater mortgages.

Even as policymakers plot its demise, Fannie is raising the prices it pays to community lenders for mortgage loans — outbidding large-bank aggregators like Wells Fargo and JPMorgan Chase.

In a Web chat with Zillow CEO Spencer Rascoff, Obama said he'll urge Congress to act on a reform package to wind down Fannie and Freddie and place housing on a "more stable footing," but also give homeowners "a chance to refinance while interest rates are still low."

Bankers are pressing ahead with sales of nonperforming commercial loans, and debt collectors are buying them up, even though regulatory pressure has slowed or halted the unloading of bad consumer loans.

As Congress struggles to determine the appropriate role for government in the mortgage market, affordable housing may prove a politically charged hurdle on the path to reform.

The decline of Fannie Mae and Freddie Mac could usher in a mortgage renaissance for community banks facilitated by their natural partner, the Federal Home Loan Bank System.

Sallie Mae has told shareholders that federal regulators were expected to penalize the company for violations of a federal law that offers special borrower benefits to members of the military.

President Obama belatedly weighed in Tuesday with a vision of how to reform Fannie Mae and Freddie Mac and the future of housing finance. American Banker editors discuss how the White House’s involvement is likely to influence the debate.

The lower profits and new fees banks predicted when the swipe fee cap on debit cards was initially proposed never came to fruition. Why believe them now?

The Lamassu machine, a so-called Bitcoin ATM, is a rare device that makes it possible for the unbanked to obtain digital currency. It was invented by a pair of guitar-store proprietors who wanted to break into the payments industry — and are prepared to face the music when regulators take notice.

As financial services startups debate whether it is better to ask regulators for permission or beg for their forgiveness after acquiring customers, PayPal’s history might offer some lessons.

Would-be payments disruptor Aaron Greenspan says a California money transmission law forced him to choose between killing his startup and going to prison. Other financial services startups may face similar choices.

President Obama ended his administration's self-imposed blackout regarding housing finance reform on Tuesday, finally endorsing a specific approach after effectively punting on the issue more than two years ago.

New York state is asking more than 100 banks to choke off access to the automated payments system that unlicensed online lenders use to debit the checking accounts of consumers.