Regulation

Reports that the ceiling on government-backed mortgages may fall at the start of 2014 have much of the housing industry up in arms.

The distinguished economist will have to make monetary policy a priority during her tenure as Fed chair. But Yellen won’t forget about her financial regulatory role and is likely to support stricter capital requirements along with enhanced nonbank supervision.

The Department of Housing and Urban Development's recent proposal regarding the definition of "qualified mortgages" differs from the Consumer Financial Protection Bureau's QM rule. These key differences are causing lenders to be overwhelmed with how to implement the agency's plan.

Members of the Senate Banking Committee quickly took sides in the brewing battle over the nomination of Janet Yellen to head the Federal Reserve Board, but it was already apparent that she was ultimately likely to win confirmation.

Hopefully, examiners will respect good-faith efforts by banks and third-party processors to verify that a merchant’s business is legal – rather than expect financial institutions to guarantee how courts will decide.

The Federal Deposit Insurance Corp. urged a U.S. judge to reject a proposed $500 million class-action settlement between Bank of America Corp.'s Countrywide unit and investors in devalued mortgage-backed securities.

The Minnesota Department of Commerce recently moved to shut down and place into receivership two collection agencies that allegedly operated without a license and that owner Robert Dunham tapped to help finance his personal extravagances, the state agency reported Wednesday.

President Obama will nominate Federal Reserve Vice Chairman Janet Yellen tomorrow to head the U.S. central bank, a White House official said in an e-mailed statement.

Lenders are increasingly anxious about how to deal with the Department of Housing and Urban Development's recent proposal concerning the definition of "qualified mortgages," noting the agency's plan differs in key respects from the CFPB's QM rule.

According to an essay by Raymond Natter, the Consumer Financial Protection Bureau and the Dodd-Frank Act may cut off payments to conflict-torn areas.