Policy & Regulation

For all the talk about legal challenges to the recess appointment of Richard Cordray as director of the Consumer Financial Protection Bureau, the American Financial Services Association, which represents nonbank consumer lenders, has no intention of stepping into the fray.

The Dodd-Frank Act in general, and in particular its favorite child, the Consumer Financial Protection Bureau, represent sharp political disputes, as now with bypassing the Senate by the "recess" appointment of its director.

Michael Williams, the president and chief executive officer of Fannie Mae, announced plans to step down as soon as a successor can be appointed, according to a company filing issued Tuesday to the Securities and Exchange Commission.

The Securities and Exchange Commission wants banks and other financial institutions to provide more detail about their exposure to European sovereign debt so that investors would have a clearer picture of the firms' overall health.

Lawmakers show deep interest in staying involved with 'Volcker Rule' during the implementation phase, and regulators may actually be grateful.

PHH, the nation's largest private mortgage company, has been notified by the Consumer Financial Protection Bureau that it is the subject of an investigation into potentially improper reinsurance payments.

Peggy Twohig, the Consumer Financial Protection Bureau's associate director for nonbank supervision, canceled her appearance at a bank lawyers' conference "at the last minute," the conference organizers said Tuesday.

Lawyers involved in the big banks' robo-signing practices are finding themselves increasingly targeted by angry homeowners, who are filing complaints with state bar associations.

Republican Jon Huntsman is putting a conservative imprint on the idea of breaking up the largest banks.

Washington reporter Kate Davidson explains how the Consumer Financial Protection Bureau's nonbank supervisor, Peggy Twohig, plans to oversee a large swath of the financial sector.