Policy & Regulation

The regulator of federal credit unions is promising to take steps to curtail high-cost, short-term loans, in the wake of tough action by banking regulators.

The Office of the Comptroller of the Currency took regulatory action against 11 financial institutions and terminated orders against five others in April, the agency said Friday.

In a sign of renewed pressure on mortgage servicers, a number of big banks have ceased or dramatically slowed the final step in the foreclosure process.

Risks posed by the shadow banking system, the need for regulators to work through disagreements and housing reform were among the key concerns among top financial policymakers gathered at the Federal Reserve's annual conference in Chicago last week.

The return to profitability of Fannie Mae and Freddie Mac is not a reason to preserve them as part of a future housing finance system.

The Federal Reserve announced an enforcement action against the Bank of Montreal and BMO Financial for "deficiencies" in compliance with anti-money laundering and Bank Secrecy Act rules and regulations.

For two years, Democrats and Republicans have been at an impasse over the nomination of the Consumer Financial Protection Bureau's Director Richard Cordray, and next week Senate Majority Leader Harry Reid is once again calling up the long-awaited confirmation vote.

Loan performance data show the entire case against GSE underwriting standards, and their role in the financial crisis, is based on social stereotyping, smoke and mirrors, and little else.

Little Rock, Arkansas and Oakland, California objected to a multibillion-dollar settlement of a price-fixing case against Visa Inc. and MasterCard Inc. over the fees charged to merchants to process credit-card transactions.

Tim Ryan, a veteran lobbyist who runs JPMorgan Chase's regulatory strategy, served until January as chief executive of SIFMA, which moved last week to stop the sending of vote tallies to shareholders.