Policy & Regulation

Bank of America Corp., the second-biggest U.S. lender, disclosed new probes into its mortgage and foreign-exchange businesses and boosted an estimate of potential legal losses by 20 percent to $6.1 billion.

JPMorgan Chase laid out a careful plan for a better 2014 on Tuesday, as it tries to recover from a year spent paying for past mistakes. The bank is hoping that more expense cuts, improved technology and a greater reliance on wealth management will boost its future growth.

Morgan Stanley (MS) agreed to pay the U.S. Securities and Exchange Commission $275 million to resolve a probe into the sale of subprime mortgage-backed securities in 2007.

The fate of a measure that provided key tax relief to distressed homeowners is hanging in the balance as Congress debates a larger package of tax extenders.

The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by Congress's top Republican tax writer.

Foundation Bancorp (FDNB) in Bellevue, Wash., has been released from an enforcement action issued by the Federal Deposit Insurance Corp. and state regulators.

WASHINGTON — The Federal Reserve Board will release the results of the latest round of stress testing exercises of the largest U.S. banks next month, the agency said Tuesday.

Private issuers need certainty to create a new secondary mortgage market, MBA and SIFMA officials say.

Recently released transcripts of Federal Reserve meetings during the last financial crisis reflect how blind policymakers remained to what was unfolding even at its peak. That suggests the Financial Stability Oversight Council’s efforts to sound an early warning next time around are reminiscent of Charlie Brown hoping Lucy won’t pull away the football.

Federal Reserve Board Gov. Daniel Tarullo endorsed supervisors developing so-called "time-varying policies" that would help to address procyclicality, a key contributor to systemic risk.