Policy & Regulation

The Federal Housing Finance Agency is requesting public comment on a plan to gradually reduce the maximum size of loans that Fannie Mae and Freddie Mac can purchase from mortgage lenders.

With payday loans in regulators' cross hairs, banks are looking to check cashing as a way to bring in new customers and boost fee income.

The Consumer Financial Protection Bureau and four state attorneys general on Monday announced a series of lawsuits against CashCall Inc., a California-based online loan servicer accused of usury and deceptive collection practices through its affiliation with the online lender Western Sky.

The industry has moved from a traditional customer-oriented banking model to a transactional and counterparty-oriented model. This change has contributed to an operating environment in which the opportunity for abuse and deception has increased.

The Consumer Financial Protection Bureau and four state attorneys general on Monday announced a series of lawsuits against CashCall Inc., a California-based online loan servicer accused of usury and deceptive collection practices through its affiliation with the online lender Western Sky.

Zions Bancorp (ZION) said the Volcker Rule will force it to take a $387 million charge on its portfolio of collateralized debt obligations.

If the banks do not want to divest from these fringe consumer finance companies, the OCC should make them do so. Their reputations are at risk.

Visa Inc. said it awarded Chief Executive Officer Charlie Scharf compensation for fiscal year 2013 valued at $10.5 million.

The Office of the Comptroller of the Currency on Friday closed Texas Community Bank, a $160 million-asset institution located north of Houston.

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