Policy & Regulation

House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency's workplace culture.

Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.

An agreement with the Office of the Comptroller of the Currency will require Dallas-based Comerica Bank to institute a list of corrective actions regarding a range of compliance issues, including wealth management, third-party risk and financial accounting.

Getting appointees confirmed by the Senate can be a time-consuming and painstaking process in ideal circumstances, and doing it in an election year amid a scandal is far from ideal. Even so, the White House and Senate Democrats should be motivated to move fast.

Martin Gruenberg's ouster from the Federal Deposit Insurance Corp. leaves the White House with the difficult task of finding a regulator willing to serve a roughly six month term atop the beleaguered agency.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks' liquidity and long-term debt positions after last year's bank failures while saying little about the capital hikes in the embattled interagency Basel III endgame proposal.

Originators misled VA refinance applicants into believing they could skip two months of mortgage payments, the Federal Deposit Insurance Corporation said.

Investors are facing recent pressure after Republic First's collapse, allegations of criminal activity by an executive at Old National and a pending CFPB rule affecting credit card fees.

Earlier in the day, Sen. Sherrod Brown, D-Ohio, the top Democrat on the Senate Banking Committee, called on the White House to name a successor for Federal Deposit Insurance Corp. Chairman Martin Gruenberg.