Regulation

The push to regulate payday lenders is expanding to the city of Houston, where officials have agreed to join the growing list of Texas cities to approve new regulations on the industry.

Massachusetts' freshman senator, one year in.

WASHINGTON -- The legal battle over the application of the Volcker Rule is unlikely to be resolved until mid-January.

The Consumer Financial Protection Bureau was one of the most active regulators in 2013, writing a slew of new rules and taking a host of enforcement actions against banks and nonbanks alike. But that may pale in comparison to what the agency undertakes in 2014.

The “ability-to-repay” regime eviscerates fundamental principles of a mortgage “market.” It will not guarantee against a housing bubble and crash. It will constrain the availability of credit and increase home financing costs.

The “ability-to-repay” regime eviscerates fundamental principles of a mortgage “market.” It will not guarantee against a housing bubble and crash. It will constrain the availability of credit and increase home financing costs.

Community Bank System (CBU) in DeWitt, N.Y., will take a $6.9 million loss in the fourth quarter after selling collateralized-debt obligations and other securities in response to concerns over the Volcker Rule.

December was one of the most active months for the Consumer Financial Protection Bureau as it took several enforcement actions spanning from mortgage servicing to indirect auto lending. A number of cases were key milestones for the agency as it partnered with federal and state authorities as well as employed some controversial legal theories such as disparate impact. Here’s a countdown of the big cases for the month.

Including the Wells settlement, Fannie has collected nearly $14 billion from eight large mortgage lenders since the start of 2013.

The Federal Deposit Insurance Corp. still faces questions over how its resolution platform for systemically important firms will work. But international dialogue, a document detailing the agency's resolution strategy and the endorsement of a key rating agency highlighted progress during the year.