Regulation

The Consumer Financial Protection Bureau is spending too much on top officials' salaries, travel and a planned office renovation, Republicans said during a House Financial Services subcommittee hearing on Tuesday.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is asking for an investigation into claims that Bank of America purposefully delayed borrowers from entering the Home Affordable Modification Program.

NetSpend stockholders voted to approve the prepaid card marketer's acquisition by Total System Services, clearing the way for the payments processor to complete the deal in mid-2013.

Lawmakers and industry officials continue to issue warnings about the impact of the Consumer Financial Protection Bureau's ability-to-pay rule, despite recent efforts by the agency to amend certain provisions to assuage some industry concerns.

The OCC's third risk report cited put cybersecurity as the second biggest worry for bankers, right after struggles to maintain revenue.

In the first case of a state taking on bank consultants, New York regulators have banned Deloitte Financial Advisory Services from financial consulting for one year.

M&T had delayed plans to buy Hudson City Bancorp because of the Federal Reserve's compliance concerns, and an order made public Tuesday details what the Buffalo, N.Y., company has to fix.

Even great bankers cannot succeed when forced to compete in a market with an influx of new banks and a shortage of skilled bankers, wise directors, and experienced regulators.

Capital One Financial (COF), the lender that agreed to pay $210 million to settle U.S. charges of deceptive marketing of credit-card products, hired the nation's top immigration official to head compliance operations.

The Federal Deposit Insurance Corp. announced that James Wigand will step down from his management post of the agency's new wind-down facility for systemically important companies on July 28. In 2010, Wigand began overseeing the agency's implementation of the new resolution powers under the Dodd-Frank Act.