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Expatriates of Somalia threaten to close their accounts at U.S. Bancorp and Wells Fargo unless the banks wire their money to suffering family members back home. But the big banks, and others in the industry, say federal rules make it too hard to offer the service.
May 10
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The two Democratic senators said Thursday that FHFA Acting Director Edward DeMarco should act now to make it easier for homeowners to refinance.
May 10 -
The best way to stave off regulatory excess in the wake of a financial crisis is to stop causing crises in the first place. More restraint on financial institutions' part could help.
May 10
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The Consumer Financial Protection Bureau wants banks to collect all customer complaints in one unified, companywide database, a lawyer at Santander's Sovereign Bank said on Thursday morning.
May 10 -
Chris Peterson recently suggested cities should require payday lenders to describe themselves as "predatory" on storefront signs. Now he's a senior counsel to the CFPB.
May 10 -
To ensure covenants are satisfied, loan syndicates obtain private information that would give an equity market maker an advantage. Reinstating Glass-Steagall may be the only way to prevent reuse of such information.
May 10
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The agency is working on rules to make home lending more transparent and on a lot of other things too.
May 10
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Fed Chairman Ben Bernanke said the central bank has taken steps to ensure its examiners are not artificially constraining lending.
May 10 -
The Consumer Financial Protection Bureau detailed rules Wednesday that would impose new limits on origination points and fees, and prohibit certain kinds of originator compensation.
May 10 -
The National Reverse Mortgage Lenders Association has asked a federal regulator to craft a 'qualified mortgage' rule specifically for private reverse mortgages.
May 10
