Policy & Regulation

The Office of Financial Research has made a number of improvements in its measurement of systemic risk but falls well short of providing a forward-looking assessment of emerging dangers.

CMS Bancorp (CMSB) in White Plains, N.Y., plans to terminate its sale to Customers Bancorp (CUBI) in Wyomissing, Pa.

The city of Miami has sued Bank of America, Citibank and Wells Fargo in U.S. federal court in Florida, for discriminatory mortgage lending practices against minority residents that resulted in a rash of foreclosures, city officials said Thursday.

Representative Mel Watt, who will leave Congress to become regulator of Fannie Mae and Freddie Mac, said he will delay a planned increase in the fees the U.S.-owned companies charge to guarantee mortgages.

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By assessing nearly $100 million in fines and restitution against Ally Financial on Friday, regulators sent a warning shot to all indirect auto lenders that they will be severely penalized if partnering dealerships charge higher interest rates or fees to minorities.

The Office of the Comptroller of the Currency has taken disciplinary action against the banking software provider Jack Henry & Associates for failing to get a processing center damaged by Hurricane Sandy up and running in a timely manner.

A recap of the informed opinions (and discussions they generated) on BankThink this week.

The Senate voted 59-34 Friday to end debate on the nomination of Janet Yellen to head the Federal Reserve.

Ally Financial (GKM) and Ally Bank will pay $98 million in fines and restitution to settle government claims that they discriminated against minorities through their indirect auto lending business.