Policy & Regulation

More than half of the 4 million borrowers affected by the settlement will receive just $300, while three-quarters will receive less than $1,000, regulators said Tuesday.

Bank of America, Citigroup and JPMorgan Chase all received failing grades on Fannie Mae's test of mortgage servicers based on overall performance, customer service and foreclosure prevention efforts.

Sens. Bob Corker, R-Tenn., Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., David Vitter, R-La., and Susan Collins, R-Maine, are urging regulators to end "too big to fail" and delay Basel III requirements for small institutions.

A lack of communication allowed a number of banks to use funds from the small-business lending program to pay dividends or exit Tarp, Christy Romero wrote in a report issued Tuesday.

Jeffrey Lacker, the president of the Federal Reserve Bank of Richmond, said Tuesday that resolution plans provided by banks will provide a concrete road map that regulators can use if a firm becomes troubled.

Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig continued his drumbeat for a more straightforward capital measure in Basel III, and disputed arguments that a stronger leverage ratio will have unintended consequences.

Sen. Bernie Sanders, I-Vt., and Rep. Brad Sherman, D-Calif., reintroduced legislation Tuesday to break up the largest financial institutions. The bill was light on details, however, and did not spell out how a breakup should be done.

The Consumer Financial Protection Bureau, created under the 2010 Dodd-Frank reform law, is now taking consumer complaints on money transfers before the agency finalizes any changes to its remittance rule.

Uwharrie Capital Corp. (UWHR) in Albemarle, N.C., has repaid more than three-fourths of the money it took through the Troubled Asset Relief Program.

We must make clear that in all bank failures all creditors, other than insured depositors, will face risk of loss so that neither the FDIC nor taxpayers will lose money.