Policy & Regulation

WASHINGTON — The Consumer Financial Protection Bureau fined RealtySouth, Alabama's largest real estate firm, $500,000 for allegedly steering consumers to an affiliated title services company.

Banks are still feeling negative effects from last year's sudden rise in medium- and long-term interest rates, but plenty of signs in the Federal Deposit Insurance Corp.'s latest industry update continue to point to a lending resurgence in the near future.

The Arkansas company has been aggressive this year, agreeing to buy banks with a total of $3.4 billion in assets. The buying spree is partially driven by a currency lifted by a bankruptcy deal Simmons First completed last year.

The Office of the Comptroller of the Currency said Wednesday it will begin rotating out resident examiners in the largest banks as part of a slew of internal changes it plans to make later this year based upon suggestions made by foreign supervisors.

WASHINGTON — Stanley Fischer was sworn in as a member of the Federal Reserve Board on Wednesday.

WASHINGTON — Declines in mortgage-related revenue and trading income helped pull first-quarter earnings down 7.6% from the industry's profit a year earlier, the Federal Deposit Insurance Corp. said Wednesday.

Cities including Baltimore and Los Angeles have brought lawsuits against banks alleging that subprime lending to minority borrowers wound up costing municipalities tens of millions of dollars. A recent Supreme Court ruling could help banks deflect such charges.

A battle over social media about how well the current housing finance system treats African-Americans and other minorities has spurred a critical discussion about racial disparities in the mortgage market.

A consolidated exam force could give state regulators access to federal resources without undermining the dual banking system.

Solera National in Colorado went through a messy proxy fight with its biggest shareholder. The contest prompted the company's OCC examiner to ask for an invitation to the meeting.