Policy & Regulation

One could imagine a postal bank as a feeder service that brings unbanked consumers into the mainstream financial system and then graduates them to private institutions.

The Senate is set to vote on a mammoth agricultural bill next Tuesday after two years of intense debate.

The Senate passed legislation Thursday afternoon to postpone flood insurance premium increases that have already begun to go into effect around the country.

The Selma, Ala. city council approve a six-month moratorium on payday and title loan businesses that will prevent new stores from obtaining licenses, according to city attorney Jimmy Nunn.

The Consumer Financial Protection Bureau on Wednesday initiated an administrative proceeding against PHH Corp. and its affiliates, alleging PHH harmed consumers through a mortgage insurance kickback scheme that started as early as 1995.

In a long-awaited move that's expected to reduce origination costs and streamline lenders' processes, the Federal Housing Administration will immediately start accepting electronic signatures on all mortgage insurance endorsement and servicing documents, and will accept e-signatures on promissory notes beginning Dec. 31.

Without naming names, the CFPB said in a report released Thursday that, based on its examinations, servicers made borrowers jump through hoops to qualify for loan modifications and were lax about maintaining accurate records.

Benjamin Lawsky, New York's top financial regulator, rarely sounds ambivalent. But when the topic is something as unprecedented and complex as Bitcoin, the big questions appear to give him pause.

Regulators are signing bilateral MOUs and advancing strategies meant to avoid ring-fencing, but some say more binding pacts should govern cross-border resolutions.

Lenders are loosening underwriting standards for nearly every type of credit except for some home equity lines, according to a report issued Thursday by the Office of the Comptroller of the Currency.