Policy & Regulation

Sen. Richard Shelby isn't new to Banking Committee leadership, but he would face a crucial ticking clock if he returns as chairman of the panel next year.

President Obama announced an initiative Tuesday with several large banks and mortgage servicers designed to make it easier for members of the military and their families to lower their mortgage payments.

Many active-duty service members are unaware that they are eligible to postpone mortgage payments under the Servicemembers Civil Relief Act. A group of major financial services companies have pledged to improve communication about this option, according to the Financial Services Roundtable's Tim Pawlenty and John Dalton.

Fannie Mae, Freddie Mac and Ginnie Mae all overlooked warning signs about Taylor, Bean & Whitaker that make them partly to blame for the mortgage lender's multibillion fraud scheme, according to a government watchdog report.

WASHINGTON -Global Client Solutions, a large payment processor, has agreed to pay $7 million to settle charges by the Consumer Financial Protection Bureau that it illegally collected upfront fees from consumers on behalf of debt-settlement companies.

Sen. Sherrod Brown may give the country's biggest banks heartburn, but there are signs he's positioning himself as an industry ally ahead of a potential bid to run the Banking Committee.

Goldman Sachs Group Inc. agreed to pay $3.15 billion to repurchase residential mortgage-backed securities to resolve federal claims tied to the sale of the bonds to Fannie Mae and Freddie Mac.

While new government guidance is intended to make banks more willing to do business with legal marijuana dealers, in practice it creates a new set of headaches for bankers.

Goldman Sachs is in the final stages of negotiating $1.1 billion settlement with the Federal Housing Finance Agency, according to a news report Friday.

WASHINGTON — The Consumer Financial Protection Bureau has finalized revisions to its international money transfer rule that will provide certain remittances with a longer exemption.