Regulation

New York's top banking overseer said any regulation of the nascent Bitcoin industry has to include transparency on who does the trading of the virtual currency, and if that hurts a business dominated by anonymous transactions, "so be it."

Wells Fargo & Co. (WFC), the largest U.S. home lender, agreed to an $869 million settlement with Freddie Mac to resolve repurchase claims on faulty loans sold to the government-backed firm before Jan. 1, 2009.

The fate of the Dodd-Frank Act's ban on banks trading for their own accounts — one of the final pieces of the U.S. effort to prevent a repeat of the 2008 financial crisis — may rest with a cluster of economists at the SEC.

Because third-party processors are on the hook for losses from fraudulent transactions, they have as much interest in eliminating bad actors as anyone.

WASHINGTON — U.S. regulators are considering tightening regulation of asset management firms that oversee trillions of dollars, according to a new report by the Office of Financial Research released Monday.

The Department of Housing and Urban Development on Monday issued its own proposed rule defining what constitutes a "qualified mortgage," that has two exceptions to the existing QM rule finalized earlier this year by the Consumer Financial Protection Bureau.

Rep. Spencer Bachus, former chairman of the House Financial Services Committee, said Monday that he will not seek reelection in 2014.

Regulators and financial firms must listen to each other and work together to protect the interests of customers and stakeholders. Only then, will they be able to build a safe and sound financial system.

The banking regulators will remain open in the event of a government shutdown, but the ongoing fiscal battle in Congress could still have significant implications for the financial services industry.

The state has reached a settlement with five payday lenders under which they would be prevented from collecting on certain loans and pay restitution to customers, Eric Schneiderman's office announced Monday.