Policy & Regulation

A bill by Rep. Spencer Bachus passed overwhelmingly in the House Financial Services Committee to cap senior executives pay at Fannie Mae and Freddie Mac.

The director of the CFPB's Office for Older Americans said the bureau plans to raise awareness of the growing problem of elder financial abuse. Democrats used the hearing to reemphasize that the bureau can't fully protect seniors until a permanent director is confirmed.

A new book and piece by 60 Minutes have raised issues about whether Rep. Spencer Bachus traded on private information he received from regulators during the financial crisis.

DeMarco takes responsibility for the $12 million in payments, but says they were necessary to ensure top talent at the government-sponsored enterprises.

The world now knows which 28 giant banks will be required to post extra capital. Much else about the Basel III regime remains uncertain.

County and state officials are turning up the heat on MERS, as recent lawsuits filed in Michigan, Florida, Delaware and Texas challenge the validity and accuracy of the mortgage industry-controlled loan registry.

In a speech to banking industry officials, Jim Freis noted that nonbanks will soon face similar anti-money laundering restrictions as banks.

A New Jersey lawyer charged with stealing $1 million from a client has been apprehended in Alabama after an apparent attempt to avoid prosecution.

Lawmakers are near a deal to increase the maximum size of mortgage loans that can be insured by the Federal Housing Administration, a crucial source of mortgages for first-time home buyers, congressional aides said Monday.

The political jousting over the structure and leadership of the Consumer Financial Protection Bureau continues, but the real work of the agency and its professionals has begun. That work will ultimately determine, among other things, whether the CFPB will be a rules-based or enforcement-based agency.