Regulation

Lawmakers kicked off a week of investigations into recent data breaches on Monday and Tuesday, grilling bankers, retailers, government officials and consumer advocates about why the breaches occurred and what can be done to prevent future incidents.

Commercial and multifamily mortgage lenders are vulnerable to the strict regulatory climate faced by their colleagues in home finance, Mortgage Bankers Association President David Stevens says.

Chairman Mary Jo White may have promised more enforcement actions, but a pursuit of minor infractions could increase the likelihood that the SEC, already operating on a tight budget, will miss major ones.

Minnesota regulators sued a Shorewood, Minn.-based company Monday for allegedly selling trusts for more than $2,000, running a living-trust mill and falsely stating that the trusts were drawn up by an attorney.

The Federal Deposit Insurance Corp. took action against eight companies and lifted orders against eleven banks in December, according to its latest monthly roundup of enforcement actions.

The Senate is poised to vote on a massive, five-year farm bill this week that includes several provisions important for community bankers and agricultural lenders.

In a speech Monday, Shaun Donovan said a housing trust fund must be part of housing finance reform legislation, including at least $5 billion a year to preserve and increase the supply of rentals for low-income families.

Lack of bank transparency makes it difficult to see the extent of bank exposures to emerging markets and whether financial firms are adequately capitalized to withstand unexpected losses from this market turmoil … or any other.

Some U.S. banks are tightening standards on leveraged loans as they seek to comply with new restrictions by regulators, according to a survey of loan officers released Monday by the Federal Reserve Board.

Federal legislation is needed to enhance cyber-threat information sharing so that good-faith responsive actions and information sharing will not trigger legal liability.