Regulation

Nonbank mortgage lenders pose greater risks to Fannie Mae and Freddie Mac because they have limited government oversight and generally weaker finances than banks, according to a government watchdog report.

Under a measure passed Wednesday, the use of federal funds to punish banks for providing accounts to pot businesses would be prohibited.

Bank of America Corp. reiterated an offer to pay about $13 billion to settle federal and state probes of mortgage-backed bond sales, a deal prosecutors had previously rejected, a person with knowledge of the matter said.

A Senate Banking Committee hearing looked at whether some regional banks that meet the Dodd-Frank Act's "systemically important" threshold belong in the same group as global giants.

The push to expand banking services at the country's post offices continues to gain momentum, though numerous questions remain about the design and scope of such an effort.

Ocwen Financial (OCN) has created a community advisory council to address the needs of distressed borrowers amid regulatory scrutiny of the mortgage servicer.

WASHINGTON — Banks across the country continued to see widespread signs of increased lending to consumers and businesses in the third quarter, according to a Federal Reserve report released Wednesday.

Federal Reserve Board Chair Janet Yellen on Wednesday defended the credibility of living will plans submitted by the country's largest banks, saying it was a complex but useful process.

The Consumer Financial Protection Bureau issued a proposal Wednesday that would allow it to publish more information about individual complaints made by consumers about financial companies.

Borrowers with a first-lien modification and home equity line of credit could face a spike in their monthly mortgage obligations when the interest rates on both loans reset next year.