Policy & Regulation

WASHINGTON — The House passed a bill by a voice vote Monday that will make it easier for mortgage originators to take a new job across state lines or move from a federally regulated bank to a nonbank lending shop.

The Consumer Financial Protection Bureau is making an end run around existing regulations to collect new data on overdraft programs, the American Bankers Association claims.

WASHINGTON — Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

Nonperforming commercial-and-industrial loans are soaring, and loans to farmers and construction firms — not just oil and gas companies — are a big reason.

A federal appeals court in Manhattan reinstated a civil antitrust case accusing 16 banks of hurting investors who bought securities tied to Libor by manipulating the interest-rate benchmark.

Bank of America Corp.'s Countrywide Financial unit was exonerated of allegations that it sold defective residential mortgage loans to Fannie Mae and Freddie Mac with an appeals court throwing out a judgment against the bank of more than $1.2 billion.

Joseph Fellerman, a former special adviser at the Federal Deposit Insurance Corp., was one of the first people at the agency to research systemic resolution. Now, the agency is better prepared to handle the next big crash, he told the American Banker in a sit-down interview.

The nascent industry's early success will mean very little if these new companies don't take necessary steps to position themselves for the long term.

The secondary marketing agency wants to model how servicers' available cash might stand up to shocks because interruptions to that liquidity have been a common problem among those that failed.

I bear no hard feelings for the JPMorgan Chase CEO, but our disagreement underscores a rift between how Wall Street firms and community banks view the post-crisis landscape.