Regulation

In back-to-back hearings this week, lawmakers acknowledged the promise of virtual currencies like Bitcoin and the risks of overregulation along with the danger of abuse. Laws on the books may suffice to address the latter, for now.

Payday lender Cash America International will pay up to $19 million to settle allegations that it robo-signed court documents in collection lawsuits, overcharged members of the military and took steps to impede an examination by the Consumer Financial Protection Bureau.

Cash America will pay up to $19 million to settle allegations that it robo-signed documents, overcharged military borrowers and destroyed documents during a CFPB exam.

The Consumer Financial Protection Bureau on Wednesday unveiled an enforcement action against Cash America International for robo-signing and other violations. American Banker editors discuss what the action says about the future of the small-dollar loan market and the CFPB's future enforcement activities.

The Center for Plain Language has issued report cards for the Consumer Financial Protection Bureau, Small Business Administration, the Treasury Department and others for how well they adhere to a 2010 law urging clearer communication in government.

The CFPB is calling the two new mortgage forms "Know Before You Owe," an apt description since a hodge-podge of federal mortgage disclosures that the new forms will replace have long been considered duplicative and confusing.

WASHINGTON — Federal Reserve Board Chairman Ben Bernanke on Tuesday detailed efforts by policymakers to bring better clarity to the central bank's monetary policy decision making process.

Despite complaints from bankers that the controversial legal theory is unfair, many lawmakers said it has been a useful tool in combatting discrimination.

Two key senators are seeking further details from Janet Yellen, President Obama's nominee to head the Federal Reserve Board, on her approach to a number of supervisory issues, including plans to hire more staff.

JPMorgan Chase reached a $13 billion deal with the U.S. Justice Department that ends probes into the bank's sale of mortgage bonds, the largest amount paid by a financial firm in a settlement with the government.