Policy & Regulation

Fred Joseph, Colorado's banking commissioner, said Community Banks of Colorado should have been able to sell its branches in a bid for more time to resolve its problems. But the FDIC and the Fed overruled him — and then failed the bank.

WASHINGTON - The credit union industry has been lobbying the powerful congressional committee charged with reducing the deficit, seeking to ensure that credit unions preserve their tax-exempt status.

The Obama administration and FHFA abandoned key restrictions that prevented the original Harp program from taking off, including requirements for new appraisals and limits on loan-to-value ratios.

A housing regulator and the Obama administration on Monday are set to unveil a major revamp of a home loan refinancing program aiming to enroll hundreds of thousands of borrowers whose homes have declined in value.

A U.S. district court, responding to charges by the Federal Trade Commission, found a credit repair seller in contempt for violating a previous court order that required him to stop promoting worthless credit repair products and services to consumers.

The Federal Reserve usurps authority usually held by state regulators and fails a Colorado bank.

Mark Conner, former president of FirstCity Bank of Stockbridge, Ga., pleaded guilty to conspiring to commit bank fraud and perjury, according to the Justice Department Friday. FirstCity Bank was closed in March 2009.

Right now, the government is at risk for an increased share of the reduced amount of residential mortgages that are being produced. This is another damnable result of the recent crisis. No proposed remedy for it has attracted much support. I'll suggest alternatives.

Two community banks in Georgia, and one in Florida, were closed late Friday at a cost of more than $130 million to the Federal Deposit Insurance Corp.