Policy & Regulation

WASHINGTON — Seven of the largest mortgage servicers say they have trimmed an average of $614 off monthly payments on over 16,000 loans as part of foreclosure prevention required by a regulatory settlement.

WASHINGTON — The Federal Reserve Board on Wednesday neared the halfway mark of unwinding its unprecedented bond buying program, reducing its purchases to $45 billion.

A bipartisan coalition of lawmakers is pushing the Obama administration to nominate someone with community banking experience to the Federal Reserve Board.

New York state is cracking down on online lenders that, it says, are using debit card transactions to skirt payday lending laws.

The Federal Reserve is considering a requirement that the biggest banks add their bonds to pay packages for top executives.

The Federal Deposit Insurance Corp. claims that reports of the impending death of community banks are greatly exaggerated. Historical data tells a different story.

Fannie Mae and Freddie Mac could require an additional bailout of as much as $190 billion in a severe economic downturn, according to the results of stress tests released by the Federal Housing Finance Agency.

A House Financial Services subcommittee unanimously approved subpoenas for three officials at the Consumer Financial Protection Bureau on Tuesday, compelling them to testify about employee allegations of retaliation and discrimination at the agency.

First Horizon National Corp. announced late Tuesday that it will pay $110 million to the Federal Housing Finance Agency to settle allegations that it sold faulty mortgages to Fannie Mae and Freddie Mac in the years leading up to housing bust.

The future of housing finance reform remains in limbo on Tuesday, after Senate Banking Committee leaders postponed a key vote on legislation to unwind Fannie Mae and Freddie Mac.