Policy & Regulation

OpenCoin, Chris Larsen's virtual-currency venture, announced today it has closed funding from several investors, including Bitcoin Opportunity Fund.

Credit card companies, investment advisors and other financial firms will be required to set up programs to flag and deter identity theft, U.S. regulators said Wednesday.

WASHINGTON — The Office of the Comptroller of the Currency is asking lawmakers to expand its authority to take enforcement actions against independent contractors that it requires banks to hire.

President Obama unveiled his long awaited budget plan on Wednesday, offering a more detailed look at the financial health of the Federal Housing Administration and introducing several key banking proposals.

The lead Democrat on the House Financial Services Committee, Rep. Maxine Waters, is considering certain changes to the Dodd-Frank Act.

The Consumer Financial Protection Bureau released a 45-page compliance guide for small banks and mortgage lenders to better understand how to comply with the "qualified mortgage" rule that requires lenders to ensure borrowers have the ability to repay a loan.

Constraints on fees for arranging loans will encourage car dealers to charge more for other products and services to make up lost revenue.

The only way to put an end to "too big to fail" is to safely unwind banks without a government rescue according to Jeffrey Lacker, president of the Federal Reserve Bank of Richmond.

The Consumer Financial Protection Bureau on Wednesday published a compliance guide for small banks and mortgage lenders to better understand and comply with a rule that requires lenders to ensure borrowers have the ability to repay a loan as well as creates a separate class of loans known as "qualified mortgages."

The top Democrat on the House Financial Services Committee said she would consider "discussing areas that require clarification" in the Dodd-Frank Act.