Policy & Regulation

The recent $25 billion settlement by 49 attorneys general and the Obama Administration against the five largest mortgage servicers for deficiencies in their foreclosure practices is emblematic of misdirected energy and bad public policy. Like the Dodd-Frank financial reform law, the settlement is living proof that the judgment of politicians can be clouded by fixes that sound good, but miss the target. State and federal governments' need/desire to punish financial services companies is actually constricting lending and impeding the economic recovery.

The Treasury Department is planning a new strategy to recoup its Tarp investments: auctioning off outstanding preferred stock in six banks. The six are: Banner of Walla Walla, Wash.; First Financial of Charleston, S.C.; MainSource of Greensburg, Ind.; Seacoast in Stuart, Fla.; Wilshire in Los Angeles; and WSFS in Wilmington, Del.

Tom Grady resigns after eight months on the job to temporarily lead Florida's biggest insurer.

MB Financial Inc. in Chicago has repurchased $196 million of preferred shares issued to the Treasury Department as part of the Troubled Asset Relief Program.

The Federal Reserve's stress tests and capital decisions this week help clarify which banks can afford to buy, how much they can pay and which might need to sell.

Explore the negative impact of the Durbin Amendment on small businesses, including increased fees and reduced banking services, contrary to claims of negligible effects.

During a congressional hearing, consumer advocates criticized a range of prepaid industry practices. But they also acknowledged that Congress may not need to act now, given the CFPB's oversight of the industry.

The majority of U.S. Bancorp customers have found ways to avoid paying monthly fees, after the bank phased out its "free" checking accounts, an executive told American Banker.

An estimated 588 different collection agencies and creditors were sued in the second half of February, according to WebRecon LLC, a Grand Rapids, Mich.-based research firm that compiled the data from U.S. District Courts.

WASHINGTON — The Financial Crimes Enforcement Network on Wednesday released a new electronic form to allow prepaid card providers — as well as foreign money services businesses — to register with the agency.