Regulation

Regulatory officials have been optimistic that they would finish critical aspects of the Dodd-Frank Act by the yearend, but as the year comes to a close, banking agencies are likely to miss the target.

LNB Bancorp (LNBB) in Lorain, Ohio, has sold $3.7 million of stock as part of a plan to exit the Troubled Asset Relief Program.

Chinese central bank officials told third-party payment service providers to stop offering clearing services to online Bitcoin exchanges, according to China Business News, which is affiliated with the Shanghai government.

Actions jointly announced against California-based CashCall signal the Consumer Financial Protection Bureau's intent to target online lending based on claims originating in states.

The Federal Housing Finance Agency is requesting public comment on a plan to gradually reduce the maximum size of loans that Fannie Mae and Freddie Mac can purchase from mortgage lenders.

With payday loans in regulators' cross hairs, banks are looking to check cashing as a way to bring in new customers and boost fee income.

The Consumer Financial Protection Bureau and four state attorneys general on Monday announced a series of lawsuits against CashCall Inc., a California-based online loan servicer accused of usury and deceptive collection practices through its affiliation with the online lender Western Sky.

The industry has moved from a traditional customer-oriented banking model to a transactional and counterparty-oriented model. This change has contributed to an operating environment in which the opportunity for abuse and deception has increased.

The Consumer Financial Protection Bureau and four state attorneys general on Monday announced a series of lawsuits against CashCall Inc., a California-based online loan servicer accused of usury and deceptive collection practices through its affiliation with the online lender Western Sky.

Zions Bancorp (ZION) said the Volcker Rule will force it to take a $387 million charge on its portfolio of collateralized debt obligations.