Regulation

Republican senators accused the Consumer Financial Protection Bureau on Tuesday of invading consumers' privacy while gathering massive amounts of data from financial companies.

Banks' ability to provide crucial services in support of economic growth reflect their risk-bearing capacity, which is directly related to market valuations of bank franchises.

The House Financial Services Committee will not accept testimony from Consumer Financial Protection Bureau Director Richard Cordray on the agency's semi-annual, according to Rep. Jeb Hensarling, R-Texas. The chairman argues that Cordray was not legally appointed to the position.

A survey released Tuesday by SAI Global Compliance shows that financial service companies are dedicating a growing portion of their software budget to regulatory compliance.

The Consumer Financial Protection Bureau, created under the 2010 Dodd-Frank reform law, recently announced that it was restructuring the agency to establish a new office to deal with financial institutions and their trade groups.

American Express Co. is issuing EMV chip-and-signature cards to its corporate card customers in the U.S. starting in the first half of 2013.

Hundreds of thousands of homes are being withheld from the market, raising questions about whether the recent run-up in housing prices is artificial.

The New York State General Assembly this week passed the Consumer Credit Fairness Act designed to curb abusive debt collection lawsuits.

Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., speaking at a forum co-hosted by American Banker, hinted at several potential changes from a draft copy of the legislation that was leaked to the media earlier this month.

Ahmanson had seen men get rich by focusing on the government's priorities. Now it wanted homes and mortgages. He would build a business to meet this demand.