Regulation

Scott Simon, head of mortgage-backed securities operations at fixed income giant Pacific Investment Management Co., argues on the eve of his retirement that the government-sponsored housing enterprises should continue to play a major role in housing finance.

JPMorgan Chase said it will face enforcement action from federal regulators over its collection practices and add-on products commonly appended to credit cards.

Sen. Mike Crapo, the top GOP lawmaker on the Senate Banking Committee, is requesting more information about the Consumer Financial Protection Bureau’s data collection practices.

WASHINGTON — The Federal Reserve Board said Monday that the largest U.S. bank holding companies will submit results of their company-run, midyear stress tests to regulators this summer.

Bankers truly face a Catch-22 in the lending business these days, thanks to "qualified mortgage" and disparate impact laws.

The gradual erosion of net interest margins and a compensatory shift toward risky new lending strategies for additional yield is a major factor for high chargeoffs and community bank failures.

Regulators on Friday seized two banks owned by the $1.6 billion-asset company. The failures could tangle the Lansing, Mich., company in what the Federal Deposit Insurance Corp. calls the cross-guarantee liability, meaning that the agency has the ability to charge Capitol's nine surviving banks with the cost of the failures.

New York's Attorney General charged Bank of America and Wells Fargo with hundreds of cases of failure to comply with the national mortgage servicing settlement recently. The claims made for lots headlines but may prove a non-starter in court.

Penny Pritzker, Obama's pick for Commerce Secretary, acted commendably in the failure of Superior Bank, says former FDIC chairman William Isaac, who represented her in talks with regulators at the time.

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