Policy & Regulation

Money-laundering episodes included a purported Whitey Bulger associate looting a church's coffers and the arrest of a Houston socialite on gambling-related charges.

Ocwen Financial Corp. will pay $2 million to settle charges that it misstated its financial results in valuing complex mortgage assets, said the Securities and Exchange Commission.

WASHINGTON — Frustrated by recent losses on Capitol Hill, American Bankers Association President Rob Nichols said Wednesday that the industry needs to drastically rethink its lobbying strategy.

The House Financial Services Committee argues that the CFPB ignored a Justice Department request to narrow the list of potential consumers harmed in the Ally case, purposely casting a wider net for political purposes.

Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig reiterated his strong opposition Wednesday to a Federal Reserve Board proposal that would direct large banks to raise additional unsecured debt as a cushion against a potential failure.

The Current Expected Loss Credit model will help to quantify bankers' intuition and can be built with readily available data.

JPMorgan Chase will provide $75 million for the creation of a career and technical education program to address youth unemployment.

International money transfers have not enjoyed the improvements in transparency and cost that are benefiting other products. That must change to move the remittance market forward.

In one corner are groups like the Community Home Lenders Association and the major credit union groups, which are hoping the administration will further cut premiums after a reduction a year ago. In the other are the MBA and the ICBA, which argue a cut now would be too soon.

International events like the Davos economic forum should remind business leaders of the importance of being stewards and of having workforce diversity.