Regulation

The Consumer Financial Protection Bureau accused GE Capital Retail Bank of misleading consumers into a health care credit card product that retroactively charged exorbitant interest rates, marking the agency's first significant attempt to go after such offerings.

WASHINGTON — The Federal Deposit Insurance Corp. on Tuesday approved a nearly 11% reduction in the agency's budget for 2014, a further sign of how the improving economy is reducing bank failures.

The Federal Deposit Insurance Corp. issued a strategy document on its method for unwinding failed behemoths, but concerns raised by board members and questions asked to the public in the document signal the start of a broader debate.

Regulators braved a short-lived but intense snow storm in Washington D.C. on Tuesday to approve the final Volcker Rule, a regulation designed to prevent banks from engaging in proprietary trading. Within minutes of its approval, banks, lawmakers and others reacted to the long-awaited provision. Following are some of the highlights:

Regulators appeared visibly relieved Tuesday as they signed off on a final Volcker Rule after three years of interagency wrangling, but the hardest part will be figuring out how to implement and enforce the new regulation

The five-member board voted unanimously to flesh out how the policy will work when a systemically important company fails. But this show of unity may be misleading and fleeting.

Underwater homeowners in New York state may soon have a new way to reduce the principal on their mortgages.

Rep. Mel Watt cleared a procedural hurdle in the Senate Tuesday toward becoming the next director of the Federal Housing Finance Agency, with a final confirmation vote to come as early as this afternoon.

Janet Yellen has made it clear she wants to move the Federal Reserve away from a bank-centric regulatory model to one that appropriately tailors rules to the nonbanks that it now regulates.

The president and chief executive of Pacific Premier Bancorp (PPBI) in Irvine, Calif., has been elected to the board of the Federal Home Loan Bank of San Francisco.