Policy & Regulation

Federal Reserve Bank of New York President William Dudley said the pace of eventual interest rate increases "will probably be relatively slow," depending on the economy's progress and how financial markets react.

Mortgage servicers and troubled homeowners may be losing faith that Congress will pass legislation saving borrowers from paying a tax penalty when they do a short sale.

Banks' have a new worry on the payday lending front besides the government's Operation Choke Point: lawsuits filed by consumers. Eleven financial institutions been hit with private suits that accuse them of helping online payday lenders break the law.

New York regulator Benjamin Lawksy plans to expand an investigation into the affiliated businesses of nonbank servicers and to eliminate several layers of review for mortgage bankers to apply for a license or a new branch location.

Freddie Mac has long struggled to compete with larger rival Fannie Mae because the former's mortgage-backed securities trade at a discount to the latter's. Their new regulator may change that.

Seven years after the onset of the housing crisis, many homeowners continue to face unfair and unnecessary foreclosures. Regulators can help remedy the situation by prioritizing greater transparency in mortgage relief and securing funding for housing counselors and legal advocates.

An internal report released Monday showed "statistically significant disparities" in staff evaluations based not just on race, but also age, location tenure, and whether staffers were part of the agency's union. The agency intends to pay between $5 million and $5.5 million to affected employees.

New York Attorney General Eric Schneiderman on Monday renewed calls for the state legislature to address the problem of "zombie properties," or foreclosed homes that banks have walked away from to avoid the cost of maintenance.

A new Federal Deposit Insurance Corp. report says agricultural lending by banks in areas with a declining customer base gave those institutions an advantage in weathering the downturn.

WePay's decision to halt a crowdfunding initiative for an adult film actress struck a nerve as payments companies are seen distancing themselves from people in the adult entertainment industry.