Policy & Regulation

The president has assembled a new group of state and federal law enforcers to right mortgage wrongs, but observers doubt it will leave much of a mark.

The Federal Deposit Insurance Corp. alerted its banks Tuesday of heightened risks from working with payment processors.

Citigroup came under political fire Monday for reporting frequent flier miles as taxable income in certain circumstances. But Sen. Sherrod Brown, who blasted Citi, had to back away from the criticism after the IRS came to the aid of the banking company.

In the Federal Reserve's latest senior loan officer opinion survey, most U.S. firms said they expect improvements in asset quality in the coming year, but were less optimistic than last year.

The Consumer Financial Protection Bureau released its first semi-annual report to Congress on Monday, outlining the steps it has taken to get the bureau off the ground in its first six months.

Republic Bancorp and the FDIC seemed to have put last year's legal tussle to rest after reaching an agreement to transfer ownership of Tennessee Commerce Bank.

The New Jersey Republican looks likely to pass his legislation through the House, but continues to face an uphill battle in the Senate.

The race for the exits is intensifying among big banks that purchase mortgages from correspondent lenders, creating liquidity issues for loan originators and radically reshaping mortgage servicing.

Under a recently-enacted law, Obama is to reduce Iranian oil revenue by punishing banks or other parties that make payments to Iran's central bank. Thus, the interbank payment system becomes a tool of American foreign policy.

In a recent speech at Osawatomie High School in Kansas, President Obama acknowledged that a strong and competitive financial industry is inextricably linked to a healthy economy. This is a message that we believe deserves greater attention by all policymakers, including the presidential aspirants.