Opinions

Big banks need passing grades on stress tests and healthy stocks before they start buying, Frank Cicero says.

The number of foreclosure sales spiked in January, as banks and government agencies started to clear the backlog of properties that have been in the foreclosure process for several years, according to data released Tuesday.

Patrick Gideon resigned as chairman of Reliance Bancshares Inc. in Missouri after objecting the company's decision to hire an outside consultant.

With the Senate expected to introduce legislation soon, the two rival industries are looking to have their priorities addressed.

The Consumer Financial Protection Bureau will propose mortgage servicing rules this year that would restrict force-placed insurance and impose new disclosure requirements for adjustable-rate mortgages.

The Obama administration took further steps in their effort to put more money in the pockets of struggling borrowers by reducing certain fees paid on their mortgages for those who opt to refinance their homes.

The Oklahoma Senate passed a bill on Monday designed to curb consumer abuse by unregulated debt collectors. Senate Bill 1430, known as the Bartmann Ethical Debt Collection Act, passed the Senate 40 to 2 and now moves to the House.

On Feb. 29 one of the members of the Federal Open Markets Committee, Dallas Fed President Richard Fisher, called for the breakup of the top five U.S. Banks.

The gap between the U.S. and other countries on financial reform appears to be widening, with one leading analyst describing the gulf over tackling "too big to fail" as a "Grand Canyon."

At least 17 states are considering bills to create some form of state-owned bank. Backers say such a bank would partner with community banks and strengthening lending. Opponents believe forming the bank would be costly and redundant with what banks already offer.