Policy & Regulation

WASHINGTON — Mortgage lender RMK Financial Corp. is facing a $250,000 fine by the Consumer Financial Protection Bureau on grounds that it used deceptive advertising.

Bank regulators plan to release their self-assessment tool later this quarter to gauge institutions' cyber readiness, but many see it as sign of more prescriptive measures down the road.

A group of community lenders is calling on the Treasury Department to establish reserves to capitalize a new cash window in case Fannie Mae and Freddie Mac are dismantled.

Merchants argue that Fed policy allows banks to overcharge stores for debit-card swipe fees, resulting in higher prices for consumers. But the revenue banks earn on interchange fees benefits all Americans, since financial institutions invest a portion of it in developing security technologies to protect consumer data.

Leaders on the Senate Banking Committee are still trying to move forward on a regulatory relief deal, but negotiations will slip beyond an earlier goal to hold a vote by the middle of April.

The agency announced Wednesday it had filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to detect fraudulent collection tactics. By including processors in its suit, observers said the CFPB's move resembles the Justice Department's Operation Choke Point.

The Topeka FHLB's plan to allow participations in newly issued mortgage pools may benefit members institutions and the bank itself – and could soon be imitated by other Home Loan Banks.

It's ironic that banks want to streamline the regulatory structure when their own structures are hardly paradigms of simplicity. Rather than weaken rules or consolidate agencies, we should focus on improving the quality of oversight — and on reducing banks' complexity.

Any banker considering filing an appeal against examination findings will first weigh the drawbacks of irking regulators. This explains the surprisingly small number of appeals that regulators have received in the last few years.

The partnership with MAX Exchange is designed to enable community banks to sell their loans and get better pricing.