Regulation

WASHINGTON — Stanley Fischer was sworn in as a member of the Federal Reserve Board on Wednesday.

WASHINGTON — Declines in mortgage-related revenue and trading income helped pull first-quarter earnings down 7.6% from the industry's profit a year earlier, the Federal Deposit Insurance Corp. said Wednesday.

Cities including Baltimore and Los Angeles have brought lawsuits against banks alleging that subprime lending to minority borrowers wound up costing municipalities tens of millions of dollars. A recent Supreme Court ruling could help banks deflect such charges.

A battle over social media about how well the current housing finance system treats African-Americans and other minorities has spurred a critical discussion about racial disparities in the mortgage market.

A consolidated exam force could give state regulators access to federal resources without undermining the dual banking system.

Solera National in Colorado went through a messy proxy fight with its biggest shareholder. The contest prompted the company's OCC examiner to ask for an invitation to the meeting.

Merchants who use dynamic currency conversion should be required to give consumers full disclosure about the service's added fees.

Thomson Reuters Corp., the provider of financial data and news, elected former Federal Deposit Insurance Corp. Chairman Sheila Bair to its board, adding an outspoken advocate of greater transparency from banks.

Mortgages generated the bulk of consumers' complaints.

The Financial Stability Oversight Council prices enhanced transparency.