Law and regulation

Housing industry officials applauded the CFPB's bid to streamline mortgage disclosures, but they are now expressing concern about the more inclusive APR requirements and limits on changes in costs that can vary over time.

Assets held by money market funds, private equity firms and other entities that make up the so-called shadow banking system stood at $67 trillion worldwide at the end of last year, according to new report by the Financial Stability Board. Supporters credit shadow banks with providing valuable services; critics warn that their lack of oversight poses systemic risk. One certainty is that they're big, with half as many assets as conventional banks, by FSB's count. Here's a look at how it defines shadow banks.

Credit Suisse becomes the latest institution charged with fraud involving mortgage securities in an investigation that is expected to involve others.

The Federal Deposit Insurance Corp.'s unlimited coverage of non-interest bearing checking accounts is coming to a close.

Providing a safe harbor for only some qualified mortgage loans will swing the stringent credit standard pendulum further in the wrong direction.

Federal Reserve Board Chairman Ben Bernanke on Tuesday warned policymakers not to delay taking steps to avert a fiscal shock that would cause the economy to fall back into recession.

The National Advertising Division, a 10-person shop that's based in New York, investigates allegations that companies are engaging in deceptive marketing, often after a competitor lodges a complaint. Just last week, the organization released its ruling in a big-money dispute between JPMorgan Chase and Capital One Financial.

Banks should seize the opportunity to shape the rule in a manner that helps policymakers achieve their AML goals without imposing needless cost and customer pain.

The Treasury Department will receive $62 million from its latest auction of stakes it owns in banks through the Troubled Asset Relief Program.

Seeking to accelerate a process that results in taking someone's home should not be done lightly. Plus, a major driver of foreclosure time is not state law but who services the mortgage.

The CFPB and FTC sent warnings to 12 mortgage lenders this week, arguing their ads were trying to trick consumers with false and misleading information.

Starr International Co.'s lawsuit against the Federal Reserve Bank of New York over the government's bailout of American International Group Inc. (AIG) was dismissed by a federal judge in New York.

As it dissolves in the wake of anti-money laundering violations, First Bank of Delaware Owes $15 million to Uncle Sam.

Last week saw a sudden burst of activity as Congress returned after the elections. But lawmakers weren’t the only ones making news, as the CFPB, FHA and Fed also dominated headlines. Following is the most critical stories of regulation and reform

The Consumer Financial Protection Bureau and the Federal Trade Commission are investigating 51 nonbank firms involved in mortgage lending or other areas of the housing market.

Capital is just not an issue for these banks. All the capital they may ever need is a phone call and wire transfer away.

John Allison, former chairman and chief executive of BB&T, made a pitch to abolish the Federal Reserve at a Dodd-Frank Act seminar.

Joseph Smith, who is monitoring the $25 billion national mortgage settlement agreement, says he is "encouraged" by banks' progress, but he cautioned that their numbers fail to take into account that short sales carry less weight in certain states.

The Consumer Financial Protection Bureau issued a stark warning to mortgage lenders and brokers on Monday, arguing they must stop running "potentially misleading advertisements," including those targeting veterans and older Americans.

Instead of pushing to avoid risk retention or liability for future frauds, banks that want to originate and sell mortgages should focus on containing and rolling back the disparate impact doctrine, which seems sure to savage them.