Policy & Regulation

The "living will" process gives financial institutions the opportunity to, among other things, frame policy, improve operational efficiencies and educate the market, business units and regulators.

The Consumer Financial Protection Bureau and the Department of Justice have signed a memorandum of understanding to collaborate on enforcing fair lending laws. Because both agencies have authority to protect against discriminatory lending, this agreement will help to avoid duplicating efforts.

FirstSouth Bancorp in Lexington, Tenn., has repaid the $50 million it had received from the Treasury Department under the Troubled Asset Relief Program.

The Federal Reserve Board has terminated enforcement actions against Anadarko Bank & Trust in Oklahoma and Hanmi Financial in Los Angeles.

Fees charged on homebuyers are meant to cover risk and protect taxpayers from losses, not pay for unrelated government programs.

WASHINGTON — The Consumer Financial Protection Bureau and the Department of Justice agreed Thursday to collaborate on enforcing fair lending laws to avoid duplicating efforts.

The Senate Banking Committee had tough questions for Shaun Donovan, on the heels of a disappointing report on the mortgage insurer's financial health last month.

Opponents have failed to halt momentum on a bill to extend the Transaction Account Guarantee program, and the Senate is slated to vote on the legislation as early as next week.

"It's clear the Roundtable's new chief executive plans on sticking around; this isn't a pit stop in his political career," writes American Banker's Editor-at-Large Barbara Rehm.

The Senate is preparing to vote soon on a bill to keep TAG alive even as various interests, including large institutions and money-market mutual funds, fight to shut the program down.