Policy & Regulation

Chicago Mayor Rahm Emanuel on Tuesday shot down the idea of using eminent domain to seize underwater mortgages, the Chicago Tribune reported.

Britain's Standard Chartered Bank will pay $340 million to settle claims that it laundered hundreds of billions of dollars in illegal foreign transactions for Iran and other parties.

The smattering of data showing an upsurge in lending activity now includes the statistical reporting required under the Community Reinvestment Act.

The battle between retailers, issuers and the major card networks rages on, but behind the scenes, small electronic funds transfer networks suddenly have become more relevant in driving down payment-acceptance costs.

Dodd-Frank just turned two, but it'll be old before its time writes Dimitri B. Papadimitriou of Bard College. The legislation falls prey to the same flaw of most financial regulation: aiming to solve the last crisis instead of the next, he argues.

Money funds and non-deposit-taking consumer lenders should be chartered as limited purpose banks by the Fed and CFPB, respectively. This will reduce systemic risk, improve consistency and efficiency, and protect consumers.

The unexpected retirement of Julie Williams, the Office of the Comptroller of the Currency's second-in-command, raises questions about whether the move was forced and what it says about the agency's future direction.

Three former employees at JPMorgan Chase & Co. branches pleaded guilty on Monday to using the identities of Puerto Rican customers to file fraudulent tax returns.

The complaint against Wells Fargo highlights problems in comparing borrowers from different racial and ethnic groups.

The creation of Consumer Financial Protection Bureau and an emphasis from all regulators on unfair, deceptive, or abusive acts and practices has created new staffing demands. “Banks are scrambling to find compliance personnel with expertise in consumer protection law,” writes American Banker’s Andy Peters.