Regulation

Emclaire Financial in Emlenton, Pa., has partly redeemed preferred stock it issued through the Small Business Lending Fund.

Fannie Mae overpaid its servicers by roughly $89 million last year due to errors made during a manual review by a third-party vendor, according to an inspector general's report released Wednesday.

The first thing President Obama should have done after Larry Summers’ withdrawal was nominate Janet Yellen to be Fed chairman. Appointing the first woman to lead the Fed should be a historic moment. Obama has turned it into a consolation prize.

WASHINGTON — The Consumer Financial Protection Bureau on Tuesday updated its exam manual for payday lenders to include how examiners will check for harm against military personnel.

A white paper suggests the CFPB is headed in the wrong direction by continually adding more "clarifications" — and complexity — in rules and regulations, suggesting the agency should focus instead on a clear set of guidelines for institutions.

Lawmakers are scheduled to examine concerns on Wednesday that a hike in flood insurance premiums set to go into effect this fall could topple the still weakened real estate market.

Incessant lawsuits and enforcement actions convert a taxpayer problem into a shareholder concern, immune to lobbying efforts. The surge will lead to restructuring efforts, including spinoffs, as managers seek to simplify operations and improve performance.

In an email to employees, Jamie Dimon said the company is focused on eliminating products and services that aren't core to the business, while also boosting compliance with regulatory initiatives and improving oversight of outside vendors.

Bank of America Corp., the second-largest U.S. bank, said it could survive a deep U.S. recession that includes a 21 percent drop in housing prices and an 11.7 percent jobless rate.

In the wake of Larry Summers' withdrawal from consideration as Fed chair, many speculate that Janet Yellen is now the leading candidate to assume the post. Yet there are signs the White House may go in another direction, according to industry officials.