Policy & Regulation

Sen. Bob Corker, R-Tenn., a co-author of housing finance legislation, urged the House and Senate to pass their bills that offer different replacements for Fannie and Freddie. The bills can be reconciled in negotiations later, he said.

Governments need to consider the advantages of a good bank-bad bank restructuring while loan assets currently have determinable and probably higher values than earlier in the crisis.

Officials with the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corp. and a Maine state regulator said they would look into more stringent disclosure requirements and other measures for payday loan-type products.

New York Private Bank & Trust, the parent company of Emigrant Bank, has fully repaid its Troubled Asset Relief Program funds.

Carol Galante, the commissioner of the Federal Housing Administration, told lawmakers discussing broad reforms to the housing agency that more targeted action is needed in the short term to repair the FHA's reverse mortgage program.

Gayle Manchin has been elected to serve on the board of MVB Financial, the Fairmont, W.Va., bank, it announced Monday. Her husband, Joe Manchin, was West Virginia governor from 2005 through 2010 and is now the state's junior U.S. senator.

The debate over the Warren-McCain bill should start by correcting some popular misunderstandings.

WASHINGTON — The House Financial Services Committee narrowly approved legislation to overhaul the mortgage finance system Wednesday morning after more than 10 hours of back-and-forth debate on Tuesday.

Comerica, Huntington, M&T Bank, Northern Trust and Discover are among the next wave of holding companies set to join the 18 others now required to participate in annual exams that test banks' capital strength in times of stress.

Boston University professor Con Hurley's plan would require systemically important firms to set aside reserves equal to the net advantage — funding and otherwise — they get for being big.