Policy & Regulation

The House Financial Services Committee passed six bills on Thursday that would change several aspects of the Consumer Financial Protection Bureau.

Industry representatives say the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency's guidance puts the future of deposit advance in doubt, while regulators say they are simply urging better underwriting and risk management.

The House Financial Services Committee passed six bills on Thursday to alter various aspects of the Consumer Financial Protection Bureau.

Tim Howard, dismissed with former CEO Franklin Raines in late 2004, claims in a new book, "The Mortgage Wars," that the GSE was quite healthy — but was the victim of vicious attacks by a banking lobbyist group and regulators.

Timothy Howard is adamant that a private-market fix will not work, though letting GSEs keep holding mortgages is too controversial to get Congressional approval

The Consumer Financial Protection Bureau released a final rule on Wednesday that merged mortgage disclosure forms in an effort to help consumers better understand the total costs of a loan.

The Senate Banking Committee voted to advance Janet Yellen's nomination to head the Federal Reserve on Thursday, with several lawmakers breaking party lines.

Cash America International, one of the payday lending industry's biggest companies, has agreed to pay up to $19 million for alleged violations that include impeding the Consumer Financial Protection Bureau's examination process.

We can talk all we want about policies, process and technology, but in the end, financial services remains a people-based business. Having the right people in key risk management roles will yield the strong institutions of tomorrow.

A remarkably substantive debate on big banks turns up a big surprise.