Policy & Regulation

Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse.

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

The Credit Union National Association’s Governmental Affairs Conference, normally the industry's biggest annual event, will be held this week in a virtual setting, a change that would have seemed unthinkable one year ago.

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.

For too long, the Consumer Financial Protection Bureau's rulemaking process has been informed by its director's political affiliation. The next leader must keep the agency focused on its mission: protecting consumers.

Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

Detecting business dealings with banned parties means screening a maze of transactions, and Treasury’s Office of Foreign Assets Control supports calls for the industry to take a risk-based approach. But regulators effectively require banks to track everything, which is unproductive.

The Federal Reserve imposed the restrictions after conducting supplemental stress tests tied to the pandemic. But Vice Chair of Supervision Randal Quarles says it is now clear banks would have had sufficient capital regardless.

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.

As the Consumer Financial Protection Bureau slowed its pursuit of bad actors, state attorneys general vowed to pick up the slack. Here’s why they fell short — and why they are poised to get aggressive again.