Regulation

The Consumer Financial Protection Bureau issued a consumer advisory report on Wednesday which is provoking concerns that the agency may be inadvertently encouraging borrowers to challenge their lenders in court after new mortgage rules go into effect in the new year.

Federal Reserve Board Chairman Ben Bernanke said regulators have made progress over the last year, but more reforms need to be made in order to keep the financial system safe.

The Independent Community Bankers of America and the American Association of Bank Directors warned regulators that the Volcker Rule will force banks to lower capital to dangerously low levels.

The $1.1 billion-asset company said in a regulatory filing Thursday that it sold bank and insurance trust-preferred collateralized debt obligations that cost about $8.3 million -- at an $850,000 loss.

Ellen Richey has become the new chief legal officer at Visa, where she will be responsible for legal functions as well as oversight of the card network's compliance and audit teams.

CLO managers have long lobbied against proposed rules requiring them to keep "skin in the game" of these deals, arguing that such a requirement would increase the cost of financing for U.S. companies.

BankUnited in Miami Lakes, Fla., has sold two batches of securities in order to comply with the Volcker Rule.

The Federal Housing Finance Agency has fallen behind in its examinations of Fannie Mae and Freddie Mac because it simply does not have enough examiners to properly monitor the government-sponsored enterprises, according to new report from the agency's watchdog.

A consumer advisory issued by the Consumer Financial Protection Bureau on Wednesday is stoking fears that the agency may be inadvertently encouraging borrowers to challenge their lenders in court after new mortgage rules go into effect next month.

During his final press conference as chairman, Fed Chairman Ben Bernanke cited progress made over the past twelve months, but left the door open to further changes.