Policy & Regulation

WASHINGTON — Sarah Bloom Raskin was sworn in Friday as deputy secretary of the Treasury Department, after stepping down from her seat on the Federal Reserve Board.

Steven Antonakes, the Consumer Financial Protection Bureau's deputy director, recalled how people's interest in what regulators do grew in 2008.

Credit Card penalties—like over-limit and late fees—are constitutional and do not violate consumers' due process rights, the Ninth Circuit U.S. Court of Appeals recently ruled.

The Senate passed revised legislation Thursday that would delay increases in flood insurance premiums, following the House's vote advancing the bill last week.

The Treasury Department has directed mortgage servicers to notify borrowers 120 days in advance of upcoming increases in monthly payments on loans previously reworked through the Home Affordable Modification Program.

Stanley Fischer, the nominee to become vice chair of the Federal Reserve Board, told senators his three years at Citigroup are not a roadblock but in fact boost his credentials as a regulator.

Sen. Elizabeth Warren, D-Mass., urged Banking Committee leaders on Thursday to give panel members ample time to consider their pending bill to overhaul the housing finance market before bringing the legislation to a markup.

Those who wanted to greatly expand the power of government over the financial sector, especially to expand the discretionary power of unelected agencies, took full advantage of the opportunity.

These market-based assessments would be more palatable to the "too big to fail banks" than any bank tax and would allow them to do what they do best -- make loans, writes bank consultant Ken Thomas.

Becoming a licensed money transmitter throughout the U.S. is a time intensive and costly process many Bitcoin businesses are struggling with. But the costs of compliance could be cut substantially with the proactive step of hiring in-house compliance officers.