Regulation

Timothy Howard is adamant that a private-market fix will not work, though letting GSEs keep holding mortgages is too controversial to get Congressional approval

The Consumer Financial Protection Bureau released a final rule on Wednesday that merged mortgage disclosure forms in an effort to help consumers better understand the total costs of a loan.

The Senate Banking Committee voted to advance Janet Yellen's nomination to head the Federal Reserve on Thursday, with several lawmakers breaking party lines.

Cash America International, one of the payday lending industry's biggest companies, has agreed to pay up to $19 million for alleged violations that include impeding the Consumer Financial Protection Bureau's examination process.

We can talk all we want about policies, process and technology, but in the end, financial services remains a people-based business. Having the right people in key risk management roles will yield the strong institutions of tomorrow.

A remarkably substantive debate on big banks turns up a big surprise.

Though bankers generally applauded the Consumer Financial Protection Bureau's final rule on mortgage disclosures, they are raising concerns that some of the changes need to be fixed or they'll have no choice but to assess higher fees at the closing.

"Payday lender Cash America International will pay up to $19 million to settle allegations that it robo-signed court documents, overcharged members of the military, and took steps to impede an examination by the Consumer Financial Protection Bureau," writes American Banker's Kevin Wack.

Cash America agrees to pay $19 million to settle charges that it illegally robo-signed documents, overcharged members of the military, and stymied a CFPB examination by destroying and withholding information.

Community groups are uniting to protest Regions Financial's (RF) short-term loan program, calling on the Birmingham, Ala., company to ditch its "Ready Advance" product.